Active Mixed AidData Chinese Aid

China Eximbank provides $362.2 million preferential buyer’s credit for El Sillar Double Track Highway Project

$362.21M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Bolivia
Country	Bolivia
Start Date	Dec 19, 2016
End Date	Sep 15, 2028
Duration	4,288 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54570`

Grant Description

China Eximbank provides $362.2 million preferential buyer’s credit for El Sillar Double Track Highway Project On December 19, 2016, China Eximbank and the Government of Bolivia signed a $362,209,356.76 preferential buyer’s credit (PBC) agreement [CHINA EXIMBANK PBC 2016 (38) 426] with the Government of Bolivia for the El Sillar Double Track Highway Project.

The PBC agreement was ratified through the passage of a law on January 27, 2017.

📋 Loan / Grant Terms

📅 Maturity15 years

⏳ Grace Period6 years

The borrower was expected to use the proceeds of the PBC to partially finance a $440 million commercial contract with Sinohydro, which was signed on December 3, 2015. The lender made no disbursements in 2016.

It made disbursements worth $72,441,871 in 2017, $29,985,478 in 2018, $63,023,643 in 2019, $14,561,012 in 2020, $87,138,784 in 2021, $76,551,805 in 2022, and $16,928,031 in 2023. The borrower made no principal repayments between 2015 and 2022.

However, it paid interest and/or fees worth $1,811,047 in 2017, $2,882,410 in 2018, $4,417,717 in 2019, an unknown amount in 2020, $6,514,389 in 2021, and $9,020,673 in 2022. Then, the borrower made a payment of $30,709,097 in 2023 ($20,122,742 in principal and $10,586,357 in taxes/fees).

The loan’s (principal) amount outstanding was $0 as of December 31, 2016, $72,441,871 as of December 31, 2017, $102,427,350 as of December 31, 2018, $165,450,992 as of December 31, 2019, $180,012,004 as of December 31, 2020, $267,150,752 as of December 31, 2021, $343,702,558 as of December 31, 2022, and $340,507,847 as of December 31, 2023.

The project involves the construction of a four-lane, 28 km road, 28 bridges, 2 tunnels and retaining walls. It is located in the Chapare province, between kilometer 100 and kilometer 128 on the new road to Santa Cruz. Sinohydro is the contractor responsible for project implementation. This project entered implementation in 2018.

As of March 2020, the project had achieved a 64% completion rate. By September 2021, more than 67% of the project was complete. The road was officially opened to traffic on November 23rd, 2023.

📋 Staff Comments

The Chinese project title is 艾尔西亚公路项目. The Spanish project title is Proyecto Construccion del Tramo Central Doble Via 'El Sillar'.
Gaceta Official Source can be accessed by using the url (http://gacetaoficialdebolivia.gob.bo/app/webroot/index.php/normas/buscar) and searching for 'Decreto Supremo 3014' [Supreme Decree 3014] or 'China – EXIMBANK’.

📚 Sources & References

Bolivia: Ley Nº 893, 27 de enero de 2017
La ruta de la presencia china en bolivia
China-Latin America Finance Database
Informe de la Deuda Externa Publica al 31 de diciembre de 2016
Causa alarma el deterioro de puente Espíritu Santo II
中国水电签约玻利维亚埃尔西亚公路项目
玻利维亚艾尔西亚公路项目施工进展有序（图）
Chinese ECA Project Database - EXIM.gov
Bolivia, “ El Sillar” Road
Aprueban crédito chino para doble vía El Sillar
Sinohydro starts works at El Sillar and restricts its passage for 30 days
Senado sanciona crédito chino para doble vía El Sillar
Sinohydro concluye la perforación de un túnel en la doble vía El Sillar
ABC restringe tráfico vehicular en el Sillar
Le de 26 de enero de 2017 No. 893
En tramo inestable de El Sillar se construira doble ruta de 28 kms.
El Sillar highway (middle section)
Bolivia: Doble vía El Sillar tendrá 6 km de muros, dos túneles y 28 puentes
CULMINA RESTRICCIÓN EN EL SILLAR CON IMPORTANTES AVANCES CONSTRUCTIVOS
ABC REALIZÓ INSPECCIÓN TÉCNICA AL TRAMO CENTRAL DOBLE VÍA EL SILLAR
REPORTAN UN AVANCE DEL 64.39% EN CONSTRUCCIÓN DE 9 PUENTES EN EL SILLAR
ABC: Construcción de El Sillar se iniciará en marzo
Gaceta Oficial de Bolivia
Significant progress has been made in the $290 million road project in Bolivia
INFORME DE LA DEUDA PÚBLICA EXTERNA AL 31 DE DICIEMBRE DE 2021
INFORME de la DEUDA EXTERNA PÚBLICA AL 31 DE DICIEMBRE DE 2019
INFORME de la DEUDA EXTERNA PÚBLICA AL 31 DE DICIEMBRE DE 2017
INFORME de la DEUDA EXTERNA PÚBLICA AL 31 DE DICIEMBRE DE 2018
INFORME DE LA DEUDA PÚBLICA EXTERNA AL 31 DE DICIEMBRE DE 2022
Por fin se concluye la construcción de la doble vía El Sillar que une Cochabamba y Santa Cruz
Doble Vía El Sillar está lista, la ABC recibió de manera provisional la obra
中国电建承建的玻利维亚投资最大在建公路实现全面通车
中企承建的玻利维亚艾尔西亚公路项目顺利实现全面通车
El polémico panorama de las obras de Sinohydro en Bolivia
Carretera al oriente: 6 aspectos sobre derrumbe y tramo El Sillar
Se iniciaron acciones legales contra empresa subcontratista Mikenny
TRAMO CENTRAL DOBLE VÍA “EL SILLAR” CARRETERA COCHABAMBA – SANTA CRUZ
INFORME de la DEUDAEXTERNA PÚBLICA AL 30 DE JUNIO DE 2023
INFORME DE LA DEUDA PÚBLICA EXTERNA AL 31 DE DICIEMBRE DE 2023 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.