Completed Mixed AidData Chinese Aid

[China-Venezuela Joint Fund] Merida Cable Car Modernization 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	Feb 04, 2031
Duration	7,704 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69375`

Grant Description

[China-Venezuela Joint Fund] Merida Cable Car Modernization Project The China-Venezuela Joint Fund financed the Merida Cable Car ("Teleferico de Merida") Modernization Project. The commitment date of funding for this project is unclear. The China Development Bank has provided three tranches and one long term facility to the Joint Fund in total (#58677).

FONDEN also contributes to this fund, and it's administered by BANDES. The first commitment to this fund was made in 2007. The Mérida cable car one of the longest and highest cable car systems in the world.

In August 2008, the Mérida cable car was shut down to protect user safety because it had reached the end of its service life. In 2010, the Venezuelan government hired the Austrian Doppelmayr company to modernize the Mérida cable car system.

The modernization project included upgraded wagons, towers, safety devices, communication and security systems, seats for the disabled, an anti-slip floor, escape routes, and stairs. The new wagons have an increased capacity of 60 people per trip compared to the previous 40 people per trip.

The Merida Cable Car reopened on 29 April 2016 in the pre-commercial stage for for children, the elderly and people with disabilities and reopened to the public on 7 October 2016.

📋 Staff Comments

The flow type is unclear, however, the China Venezuela Joint Fund is financed by a loan, so the same is assumed here. The intent and flow class were coded the same as the China Venezuela Joint Fund intent and flow class (project #58766).
The commitment year is also unclear, and has been coded as the year that the Merida Cable Car modernization project began.
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.
This project is also known as El teleférico Mukumbarí

📚 Sources & References

On the ride of your life Best gondolas
Merida Cable Car (Teleferico de Merida) to Reopen Soon
Fondo Chino Venezolano renueva su compromiso con el fortalecimiento socioeconómico de la Patria
Teleférico de Mérida
Presentan nueva cabina del Teleférico de Mérida, #PeriodismoEmancipador
MÉRIDA CABLE CAR
驻委内瑞拉大使赵本堂到访梅里达州
Teleférico de Mérida
Gaceta Oficial de la Republica Bolivariana de Venezuela
China-Venezuela Economic Relations: Hedging Venezuelan Bets with Chinese Characteristics
Fondo Chino-Venezolano: Alianza binacional para el desarrollo de los pueblos 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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