Completed Mixed AidData Chinese Aid

China provides $400 million to Cuba for multiple projects (Linked to Record ID#54627, #54626, #54641, #54642)

$400M USD

Funder	China Ministry of Commerce\|Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Jan 01, 2001
End Date	Oct 05, 2026
Duration	9,408 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54625`

Grant Description

China provides $400 million to Cuba for multiple projects On 13 April, 2001 during President Jiang Zemin's visit to Havana, the Chinese Government and the Government of Cuba signed a series of loan agreements with a total value of $400 million.

The known sub-projects are as follows: 1) $150 million buyer's credit from China Eximbank to buy 1 million Chinese televisions (#54627) 2) $200 million buyer's credit from China Eximbank for modernizing and expanding telecommunications (#54626) 3) $6.5 million interest-free line of credit from the China Ministry of Commerce through an Economic and Technical Cooperation Agreement (#54642) 4) $24 million concessional loan from China Eximbank for the Miramar Hotel Project (#54641)

📋 Staff Comments

The China Daily source says that the hotel included in this loan was the Wang Hai hotel. However, no additional evidence could be found regarding the 'Wang Hai hotel', and China's Miramar hotel project in Havana (#54641) was also signed for in 2001, and is financed by a loan of $24 million from China EximBank to Cuba. This would make the total of the agreements $380.5 million, so this may actually be the hotel project referred to (UK Parliament, Granma, ASCE).

📚 Sources & References

China’s Foreign Aid and Investment Diplomacy
Volume III: Strategy Beyond
China secretly shipping Cuba arms
A Contemporary Cuba Reader: The Revolution Under Raúl Castro
Cuba's Foreign Debt
Suscritos amplios convenios de colaboración entre Cuba y China
Cuba
China
Venezuela: New Developments
Cuba and China: Lessons and Opportunities for the United States
China's Emerging Role in Latin America: Evidence from Cuba
Venezuela, and the Caribbean
Beijing and Havana: Political Fraternity and Economic Patronage
Sino-Cuban relations 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.

All Grantees

Government of Cuba

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