Completed Mixed AidData Chinese Aid

China Eximbank provides preferential buyer's credit for Two Gantry Cranes Acquisition Project

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Feb 22, 2016
End Date	Mar 21, 2026
Duration	3,680 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`70358`

Grant Description

China Eximbank provides preferential buyer's credit for Two Gantry Cranes Acquisition Project On February 22, 2016, China Eximbank and the Government of Cuba signed a preferential buyer’s credit (PBC) agreement for the Two Gantry Cranes Acquisition Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

However, it is known that the borrower was expected to use the proceeds of the loan to finance a commercial contract with Shanghai Zhenhua Heavy Industries Co., Ltd [中国上海振华重工（集团）股份有限公司] , which was signed in May 2014.

The purpose of the project was to facilitate the acquisition of two rail-mounted cranes from Shanghai Zhenhua Heavy Industries Co., Ltd [中国上海振华重工（集团）股份有限公司] -- a global leader in port equipment -- for installation and use at Mariel Port. China Communications Construction Co., Ltd. (CCCC) was the contractor responsible for project implementation.

Chinese telecommunications giant Huawei also provided technological support for the project. The two gantry cranes were delivered to the Mariel Port in early September 2016. After the cranes were put into use, Mariel Port had a capacity of 800,000 TEUs per year with four cranes.

📋 Staff Comments

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.
The Spanish project title is el proyecto compra de dos grúas pórtico or la construcción de RTG destinadas a la Terminal de contenedores del Puerto del Mariel en la compañia ZPMC. The Chinese project title is 古巴港智能闸口系统 or 古巴圣地亚哥港 or 装箱码头的重型装卸机械 or 振华重工古巴项目 or 振华重工的岸桥设备.

📚 Sources & References

驻古巴大使陈曦走访慰问马里埃尔特区工程项目中方员工
Tratados ratificados por Cuba
La banca cinese Exim Bank ha concesso un nuovo credito a Cuba
China helps Cuba's special economic zone fulfill potential
Cuba's Mariel port seeks China push
驻古巴大使陈曦访问马里埃尔发展特区
Firman Cuba y China acuerdos para el desarrollo de sectores estratégicos
Port Of Mariel Operating At 39.5% Of Current Capacity; 90% Of Container Capacity Departs Empty
Mariel port head outlines Cuba’s long-term shipping prospects
Tratados ratificados por Cuba
张向晨副部长会见古巴工业部长和能矿部长
China asesora y financia obras para nuevo embarcadero en Cuba, [LinkedIn profile for José Santana Porben]
ESPECIAL: Inversión china mejora operaciones de carga en puerto de Santiago de Cuba
Zona Especial de Desarrollo del Mariel: una puerta de entrada hacia la Cuba del siglo XXI
外媒：中国将承包古巴圣地亚哥港口现代化工程
振华重工(600320) 海工钢构订单大增，核心配套能力国内第一
中国，我们在这里等你！——古巴首个经济特区见闻
宇通重工全力保障古巴国家重点项目建设
China helps Cuba’s special economic zone fulfill potential
探秘古巴改革“前沿阵地”，这个国家真的变了....
马里埃尔，古巴经济腾飞的基石（记者观察）
苗圩与古巴工业部、通信部部长举行会谈并出席第二届古巴国际工业大会 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.