Active Mixed AidData Chinese Aid

CDB provides $500 million loan to BANDES and PDVSA in December 2009 for unspecified purposes

$500K USD

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|Pétroleos de Venezuela S.A. (PDVSA)
Country	Venezuela
Start Date	Dec 01, 2009
End Date	Apr 17, 2032
Duration	8,173 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58534`

Grant Description

CDB provides $500 million loan to BANDES and PDVSA in December 2009 for unspecified purposes According to a public filing with the U.S.

Securities and Exchange Commission (SEC), in December 2009, China Development Bank (CDB) signed a $500 million credit facility with Pétroleos de Venezuela S.A. (PDVSA) and Banco de Desarrollo Económico y Social de Venezuela (BANDES) for unspecified purposes. The borrowing terms are unknown. It is unclear whether this facility was ever disbursed.

📋 Staff Comments

1. The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, claims that a $500 million loan was issued by China Eximbank in December 2009. However, AidData relies on the identity of the lender (CDB) that was disclosed by the Venezuelan Government in a public filing with the U.S. Securities and Exchange Commission (SEC).

📚 Sources & References

Form 18-K Annual Report of the Bolivarian Republic of Venezuela
Exhibit D to the Bolivarian Republic of Venezuela's Annual Report on Form 18-K
China-Latin America Finance Database
Consolidated Financial Statements December 31, 2016 With Independent Auditors’ Report Thereon 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.