China signs ETCA with Uruguay involving 10 million CNY interest-free credit line

China signs ETCA with Uruguay involving 10 million CNY interest-free credit line On 24 June 2010, China signed an economic and technical cooperation agreement with Uruguay (2010) involving a 10 million CNY interest-free credit line for projects that would be agreed upon at a later date. The credit line would be active for a period of 5-years, from 30 December 2009 to 29 December 2014.

The credit would have a repayment period of 10-years between 30 December 2019 and 29 December 2029. The grace period would therefore be 5-years, and the maturity would be 15-years. This credit line would be managed by China Development Bank and the Central Bank of Uruguay. 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.