Active Mixed AidData Chinese Aid

[China-Venezuela Joint Fund] Metro de Valencia 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, 2007
End Date	Jun 19, 2033
Duration	9,666 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58788`

Grant Description

[China-Venezuela Joint Fund] Metro de Valencia in Venezuela The China-Venezuela Joint Fund financed the Metro de Valencia and the continuation of its construction. However, the exact financial commitment date is unknown. The complete Metro includes 4 lines with a total of 25 kilometers and 31 stations.

The Venezuela Ministry of Transport and Public Works is responsible for implementation. Line 1 was inaugurated on November 18, 2006 and it began to operate commercially on November 18, 2007. Line 2 also has several stations in service.

In April 2019, a delegation from the China Development Bank met with the board of the Metro de Valencia to verify the use of the resources contributed by the CDB and to evaluate the potential for new financing agreements. The train fleet consists of twelve Siemens SD-460 2-car light rail vehicle train sets.

The metro has an average daily ridership of 62,000 passengers.

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

1. 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
China and Venezuela bet on a common destiny of peace, friendship and expansion of their cooperation
Banco de Desarrollo de China evalúa financiamiento para Metro de Valencia
Valencia Metro (Venezuela)
Metro de Valencia
Venezuela
Financiamientos desde el Fondo Conjunto Chino-Venezolano
Señaló la ministra del Comercio
Edmée Betancourt
Fondo chino-venezolano impulsa 160 proyectos para el desarrollo del país 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

Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund

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