China gives 10 year extensions on 4 Cuban interest-free loans

Funder	China (People's Republic of)
Recipient Organization	Cuba
Country	Cuba
Start Date	Oct 05, 2004
End Date	May 17, 2031
Duration	9,720 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`54643`

Grant Description

In November 2004, Bo Xilai, China's Minister of Commerce, and Ricardo Cabrisas Ruiz, a Cuban Minister, signed an agreement postponing Cuba's payment of 4 interest-free loans for 10 additional years.

These government loans (collectively worth $50 million) were granted to Cuba between 1990-1994 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.