China Eximbank provides $42 million government concessional loan for Rice Development Project

📋 Staff Comments

1. In some of the sources, this project is referred to as the Cuban Ministry of Agriculture Project, but the full name of the Cuban Ministry of Agriculture Project is the Cuban Rice Development Project.
2. The Chinese project title is 古巴水稻发展项目.
3. The precise face value of the GCL is unknown. However, given that GCLs are used to cover 100% of the value of the underlying commercial contract and the first batch of construction equipment was likely worth $14 million, AidData assumes a face value of $42 million ($14 million for the first batch of equipment, $14 million for the second batch of equipment, and $14 million for the third batch of equipment). This issue warrants further investigation.
4. This China Eximbank loan is not captured in the China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center.

📚 Sources & References

• 山推第二批古巴农业项目设备在天津发运
• 山推古巴农业部项目出口设备在天津港发运
• 山 推 第 二 批 古 巴 农 业 项 目 设 备 在 天 津 发 运
• 山推第二批古巴农业项目设备在天津发运, 2015工程机械产品进出口贸易评析：虽小有波澜 但整体平稳
• Shantui ships third part of 152-unit Cuba order
• Shantui Completes Order to Cuba
• Sopesando las inversiones
• 山推第二批古巴农业项目设备在天津发运
• 国机重工多台常林装载机出口古巴 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.