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[China-Venezuela Joint Fund] Metro de Maracaibo 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 | Feb 01, 2033 |
| Duration | 9,528 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 58791 |
Grant Description
China-Venezuela Joint Fund finances Metro de Maracaibo in 2007 The China-Venezuela Joint Fund financed the Metro de Maracaibo. The Venezuela Ministry of Transport and Public Works is implementing this project.
The Metro de Maracaibo also known as Metro del Sol Amado, offers service between La Vanega and El Varillal (via Line 1 or L1).
Service between La Vanega and El Varillal (skipping Urdaneta) opened to the public on November 25, 2006, with the last station on the line opened on June 9, 2009. Line 1 has a daily ridership of 200,000.
Siemens AG is supplying signalling, telecommunication and electrification systems as well as the first 7 metro trains, which are similar to the vehicles running on the Prague Metro line C.
The second stage of metro is under construction, it includes five new stations (Padilla, Falcón, 5 de Julio for L1 and Calle 72, Indio Mara for L2) all of them underground.
Once L2 has been completed in a third stage to Curva de Molina, L1 may be extended north from 5 de Julio towards Milagro Norte in a fourth stage. The fifth stage will be L2 running from Curva de Molina to 5 de Julio (8.5 km) and then to El Milagro.
L2 will not be completed before 2020.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 commitment date is known, but the Correo del Orinoco source implies that it was in August 2010. This issue merits further investigation.
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
- Análisis: La cooperación entre China y Venezuela: en la Ruta de la Seda
- Metro de Maracaibo
- Maracaibo
- Maracaibo Metro
- Gaceta Oficial de la Republica Bolivariana de Venezuela
- China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
- Metro de Maracaibo
- 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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