Completed Mixed AidData Chinese Aid

China Eximbank provides $15 million preferential buyer's credit for acquisition of 12 locomotives

$15M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Jan 01, 2004
End Date	Sep 13, 2030
Duration	9,752 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69678`

Grant Description

China Eximbank provides $15 million preferential buyer's credit for acquisition of 12 locomotives In November 2004, during President Hu Jintao's visit to Cuba, China Eximbank and the Government of Cuba signed a $15 million preferential buyer's credit (PBC) agreement for the acquisition of 12 locomotive engines.

Then, on January 15, 2006, twelve DF7G-C diesel electric engines were successfully delivered to Havana by China Northern Locomotive & Rolling Stock Industry Corp. These locomotives were the first of their kind that China had ever sent to Latin America.

It appears that the locomotives were intended for rail freight transportation, and to replace Cuba's dilapidated fleet of locomotives.

📋 Staff Comments

The lender (funding agency) is assumed to be China Eximbank since the project was financed with a preferential buyer's credit, which is a financial instrument that is only used by China Eximbank. The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, does not capture the China Eximbank PBC that supported this project.

📚 Sources & References

Llegan locomotora y autobuses chinos a Cuba
Cuba Trade and Investment News: Vol. VIII
No. 6, 12 Chinese Locomotives Arrive in Havana
Dice Fidel Castro China es 'principal locomotora' del mundo
China exports 12 locomotives to Cuba
Cuba Trade and Investment News: Vol. VIII
No. 2
China-Latin America Finance Database 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

Government of Cuba

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