China Development Bank provides $250 million loan to PDVSA to boost oil production in Orinco Belt

📋 Staff Comments

1. For the time being, AidData assumes that this loan was collateralized against the proceeds of PDVSA oil sales (since all previous CDB loans to PDVSA are collateralized in this way).
2. This CDB loan is not captured in the China-Latin America Finance Database maintained by Boston University and Inter-American Dialogue. Nor is it included it in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.

📚 Sources & References

• PetroChina attempts to salvage joint refinery project with Venezuela’s PDVSA
• Las relaciones Venezuela-China (2000-2018): entre la cooperación y la dependencia
• China ‘to invest US$250 million’ to boost Venezuela’s oil sector
• Venezuela says it will receive $250 mln from China to boost oil output
• Venezuela secures oil-sector funding from China
• Venezuela Says China Investing $250 Million to Boost Oil Output
• China y Venezuela Una Asociació n Estraté gica Integral
• 中国决定再向委内瑞拉提供巨额贷款，中石油参与两国石油交易！ 未经允许，不得转载本站任何文章：
• CHINA DEVELOPMENT BANK AND VENEZUELA JOIN FORCES IN ORDER TO INCREASE OIL PRODUCTION
• 中国对委内瑞拉投资2.5亿美元　助其增加原油产能
• 委内瑞拉石油交易实现人民币代替美元计价
• Venezuela hands China more oil presence, but no mention of new funds
• Venezuela: In a Hole, and Still Digging
• Angel Alvarado Tweet dated Aug 16, 2019
• PetroChina attempts to salvage joint refinery project with Venezuela's PDVSA 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.