Completed Mixed AidData Chinese Aid

[China-Venezuela Joint Fund] Continuation of the Gran Mariscal de Ayacucho Highway in Venezuela (Linked to Record ID#58677)

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|China-Venezuela Joint Fund
Country	Venezuela
Start Date	Jan 01, 2014
End Date	Aug 22, 2027
Duration	4,981 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58621`

Grant Description

[China-Venezuela Joint Fund] Continuation of the Gran Mariscal de Ayacucho Highway in Venezuela The China-Venezuela Joint Fund financed the continuation of the Gran Mariscal de Ayacucho Highway.

Construction began in 2014, and the Venezuelan government committed to the project in 2013 in the Plan de Movilidad para la Región Metropolitana de Caracas.

China Development Bank (CDB) and FONDEN or the National Development Fund (administered through Bandes) manage this fund. It is unclear which tranche funds this project.

The cost is unknown, but in the Ministry of Transportation and Public Works source, the president of CorpoMiranda, Elias Jaua Milano, says that the project anticipates an investment of 4 million bolivars, product of the financing from the China-Venezuela joint fund.

The plan specifically calls for the construction of the Los Velasquez-El Guapo stretch in Miranda State and the construction of the Unare-Piritu segment in Anzoategui State.

The China-Venezuela Joint Fund receives contributions from China Development Bank and FONDEN, and it is administered by BANDES. See Record ID#58677 for more information on the fund. The first commitment to this fund was made in 2007.

📋 Staff Comments

The flow type is unclear, however, the Chinese part of the fund is financed by a loan, so the same is assumed here. The transaction amounts for all sub-projects are accounted for in the projects for the three tranches and their renewals. Because it is unclear how much funding for each project is from the Chinese side and it is unclear which tranche is funding each sub-project, the transaction amounts should not be recorded until this information is known.

📚 Sources & References

The Sustainable Infrastructure Finance of China Development Bank: Composition
Experience and Policy Implications
CON LA CONSTRUCCIÓN DE LA VEROTA-KEMPIS EL RECORRIDO PASARÁ DE 3 HORAS A 1 HORA
GOBIERNO NACIONAL INICIÓ AMPLIACIÓN DEL DISTRIBUIDOR LOS TOTUMOS
Ampliación de la Autopista Gran Mariscal de Ayacucho
Venezuelan 2014 budget increases 73 per cent due to additional funding requests
Gaceta Oficial de la Republica Bolivariana de Venezuela
China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
Financiamientos desde el Fondo Conjunto Chino-Venezolano 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.