Chinese Government reschedules Cuba's debt from 1990 loan agreement in 2010 (Linked to Record ID#88296)

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Jan 01, 2010
End Date	Nov 05, 2031
Duration	7,978 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69225`

Grant Description

On December 21, 2010, during the 23rd Session of the Intergovernmental Commission between Cuba and China, the Cuban Government and the China Export & Credit Insurance Corporation (SINOSURE) signed an exchange of letters for the rearrangement of the debt repayment schedule of a governmental credit granted in 1990 and was extended by 10-years once already in 2000 (see linked Record ID#88296), for another 10-years.

The rescheduled repayment period was to begin by the end of 2010.

📋 Staff Comments

The original loan is not captured in this database, as its commitment was in 1990.

📚 Sources & References

Cuba-China Rearranged Trade Ties
China restructures Cuban debt, backs reform
Cuba to Restructure its External Debt with China
Cuba and China Renegotiate Debt
Cuba and China renegotiate debt 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.