Active Mixed AidData Chinese Aid

[China-Venezuela Joint Fund] Venezuela Mission Alma Mater Project [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, 2010
End Date	Dec 09, 2028
Duration	6,917 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58795`

Grant Description

[China-Venezuela Joint Fund] Venezuela Mission Alma Mater Project [Linked to Record ID#58677) In 2007, the China-Venezuela Joint Fund supported the Mission Alma Mater, a Venezuelan initiative to enhance higher education.

According to Chavez's announcement at the launching of the initiative, there will be 11 new national universities, in addition to 13 regional ones and 4 new technical institutions. In addition, 29 existing technological institutes and schools will be converted to technical universities. According to AVN, 10 new universities would be created for this Mission.

The specific beneficiaries of the funding from the Joint Fund are unclear.

In 2008, it was announced that in two years there will be 25 new institutions, of which 10 will be specialized, 12 will be built in the states and 3 will be university institutes of technology.

Of those that will be transformed, 17 university institutes will be polytechnic universities and 8 industrial technical schools will become university technological institutes.

There will be 12 state universities, these will be built in Maracaibo, Cabimas, Caracas (Catia and Petare), Barquisimeto, Mérida, Maracay, San Cristóbal, Los Teques, Guarenas, Valencia and Barcelona. The 3 university institutes will be in Nueva Esparta, Maturín and the Valles del Tuy. In addition to creating new institutions, 200 buses were delivered to different universities..

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, and the Medium source says that the Mission Alma Mater project was executed in 2010.

📋 Staff Comments

The flow type is unclear. The CDB contributions to the Fund were a loan, so it is possibly a loan here. The Mission Alma Mater project began in 2007, but it is unclear when the Joint Fund started financial support: multiple sources say the project began to be executed in 2010, which is why it is coded as the commitment year. As it accounts for multiple education projects, this project may be an umbrella. 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
Venezuela’s revolution in higher education – ‘Mission Alma Mater’
Fondo chino-venezolano invierte $3.7 millardos en ejecución de obras.
MISIÓN ALMA MATER Educación Universitaria Bolivariana y Socialista
Gobierno creará 50 instituciones de educación superior en 2 años
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.

All Grantees

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

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