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China Eximbank provides $1 billion USD credit line to PDVSA for multiple projects (linked to Record ID#s #58452, #58479, #58480)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Pétroleos de Venezuela S.A. (PDVSA) |
| Country | Venezuela |
| Start Date | Jul 21, 2014 |
| End Date | Nov 03, 2032 |
| Duration | 6,680 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 58475 |
Grant Description
China Eximbank provides $1 billion USD credit line to PDVSA for multiple projects On July 21, 2014, China Eximbank signed a memorandum of understanding (MOU) pledging to provide a $1 billion USD credit line to Pétroleos de Venezuela S.A. (PDVSA) for multiple sub-projects.
This MOU was one of 38 agreements signed at the 13th China-Venezuela High Level Joint Committee.
The known sub-projects are as follows: 1) mineral exploration (see Record ID#58452) 2) cement plant construction project (see Record ID#58479) 3) buyer's credit loan for purchasing 1,500 Yutong buses (see Record ID#58480). The first shipment of 350 Yutong buses under this agreement arrived in Venezuela in December 2014.
The financial breakdown is unknown.
Sources & References
- Orinoco Magna Reserva Year 4
- Number 11, december 2014
- UPDATE 1-China provides $4 billion to Venezuela in exchange for oil
- Venezuela: Acuerdos firmados entre Maduro y Xi Jinping
- Venezuela firma un préstamo de 4.000 millones de dólares con China
- Greening Development Finance in the Americas 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
Pétroleos de Venezuela S.A. (PDVSA)
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