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China Eximbank provides $82.4 million government concessional loan for Press Modernization Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Cuba |
| Country | Cuba |
| Start Date | Jun 23, 2017 |
| End Date | Mar 14, 2028 |
| Duration | 3,917 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 69988 |
Grant Description
China Eximbank provides $82.4 million government concessional loan for Press Modernization Project On September 24, 2016, Chinese Government and the Governmental of Cuba signed a framework agreement for the Press Modernization Project.
Then, on June 23, 2017, China Eximbank and the Government of Cuba signed a government concessional loan (GCL) agreement worth $82,486,000 for the Press Modernization Project.
The purpose of the project is to (a) make capital improvements (including the installation of modern printing equipment) at the facilities of state-run newspapers (including Juventud Rebelde, Trabajadores, Tribuna de La Habana and Granma Internacional) in Havana, Santa Clara, and Holguín; and (b) improve the means of transportation used to distribute newspapers to customers (via a company called Correos de Cuba).
China National Complete Plant Import & Export Corporation Ltd. was contracted to the project. Project implementation commenced in 2018 and was temporarily suspended during the Covid-19 pandemic. However, by 2021, all of the equipment for project h
Staff Comments
- The Spanish project title is El Proyecto Modernización Editorial de la Prensa or El proyecto de reconversión tecnológica para la producción de la prensa y otros materiales gráficos. The Chinese project title is 古巴印刷技术升级改造项目.
- The GCL was almost certainly denominated in RMB. However, available sources (such as https://www.periodicocubano.com/cuba-ejecuta-nuevos-creditos-de-china-y-rusia-para-modernizar-la-prensa-y-antillana-de-acero/) only refer to the face value of the loan in USD (82,486,000). This issue warrants further investigation.
- 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
- Cuba
- China y un convenio para la radio y la televisión
- China condona deuda a Cuba en visita de primer ministro
- Tratados ratificados por Cuba
- Firman Cuba y China acuerdos de cooperación en sectores estratégicos
- Tratados ratificados por Cuba
- Dinero de China empuja la modernización del aparato de propaganda del régimen cubano
- ESPECIAL: Con ayuda china
- Cuba moderniza la industria poligráfica
- China da millonario crédito a Cuba para modernizar la prensa
- 驻古巴大使马辉考察浮船坞等双边合作项目
- 中成进出口股份有限公司 2020 年度报告摘要
- 驻古巴大使马辉考察古巴印刷技术升级改造项目
- 对外投资合作国别 (地区) 指南 古巴 (2018年版）
- 驻古巴大使马辉考察古巴印刷技术升级改造项目
- 中成进出口股份有限公司 2019 年年度报告 (Zhongcheng Shares: 2019 Annual Report)
- 中成进出口股份有限公司 2020 年度报告(Zhongcheng Shares: 2020 Annual Report )
- 中成进出口股份有限公司 2021 年度报告(Zhongcheng Shares: 2021 Annual Report)
- 中成进出口股份有限公司 2022 年年度报告
- 中成进出口股份有限公司 2023 年年度报告(Zhongcheng Shares: 2023 Annual Report) 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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