Bank of China provides $2.5 billion loan to Brazil's Vale for the purchase of financial services (Linked to Record ID#39175)

$2.5M USD

Funder	Bank of China (BOC)
Recipient Organization	Vale S.A.
Country	Brazil
Start Date	Jul 17, 2014
End Date	Jun 03, 2028
Duration	5,070 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59362`

Grant Description

Bank of China Finances $2.5 billion to Brazil's Vale for Purchase of Financial Services On July 17, 2014, the Bank of China (BOC) opened up a credit line of $2.5 billion USD for Brazil's Vale company (CVRD) to purchase Chinese financial services and equipment. As of 2019, this project has not progressed beyond the signature of the credit line.

It is unclear if any portion of the credit line has been drawn down.

According to the China Today article, the agreement was intended to help Vale organize their financial services for a three-year period.

📚 Sources & References

China's Bilateral Relations with Its Principal Oil Suppliers, 2014 & 2015 China Information Sheet
Financial agreements signed between China and Brazil 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.