ICBC and CDB pledge $480 million USD syndicated loan for construction of housing in Mendoza Province

$480M USD

Funder	China Development Bank (CDB)
Recipient Organization	Mendoza Municipal Government
Country	Argentina
Start Date	Jan 01, 2013
End Date	Nov 12, 2026
Duration	5,063 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54631`

Grant Description

ICBC and CDB pledge $480 million USD syndicated loan for construction of housing in Mendoza Province In 2013, the governor of Mendoza Province and the president of China Communication Construction Company (CCCC) signed a letter of intent in Beijing on November 14, 2013 for the investment and construction of houses in Mendoza Province.

According to a proposed bill from Mendoza's Chamber of Deputies on August 19, 2014, the senate and chamber of deputies of Mendoza sanctioned China Development Bank (CDB) and the Industrial and Commercial Bank of China (ICBC) to provide a $480 million loan for the project. The loan will be repaid over 15-years with an interest rate of 4.5%.

There is no evidence this loan agreement was ever signed.

📚 Sources & References

174º PERIODO LEGISLATIVO ANUAL” PERIODO ORDINARIO
Bill for financing and construction of social housing in Mendoza 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.