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China Eximbank provides RMB 120 million loan for Tractor Purchase Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Cuba Ministry of Finance |
| Country | Cuba |
| Start Date | Feb 22, 2016 |
| End Date | Dec 26, 2028 |
| Duration | 4,691 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72746 |
Grant Description
China Eximbank provides RMB 120 million loan for Tractor Purchase Project On February 22, 2016, China Eximbank signed an RMB 120 million loan agreement with the Cuban Ministry of Finance and Prices for the Tractor Purchase Project.
The purpose of the project was to acquire 486 YTO medium- and high-powered tractors and thereby increase local rice production.
The proceeds of the loan were to be used by Cuba's Ministry of Agriculture and Central Enterprise for the Supply and Sale of Heavy Transportation Equipment and Parts (TRANSIMPORT) to finance an RMB 120 million commercial contract with YTO Group Corporation, which was signed in April 2014. YTO Group Corporation claims that the project was completed by the end of calendar year 2016.
Staff Comments
- The Chinese project title is 拖拖拉机采购项目 or 古巴农业部 486 台大轮拖出口项目. The Spanish project title is la compra de maquinarias agrícolas.
- 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
- Banco chino concede nuevo crédito a Cuba para compra de tractores y trenes, 2017 Annual Report, 2019 China First Tractor Consolidated Balance Sheet
- 中国进出口银行代表团访问古巴
- ACTUALIZACIÓN TÉCNICA Y REGISTRAL DE TRACTORES
- COSECHADORAS AUTOPROPULSADAS
- IMPLEMENTOS
- MÁQUINAS Y OTROS AGREGADOS. 2016
- Banco chino concede nuevo crédito a Cuba
- Banco chino concede nuevo crédito a Cuba para compra de tractores y trenes
- 中国进出口银行与古巴财政价格部签署重要协议
- 一拖股份：2016年年度报告摘要
- 借力“一带一路”：“东方红”的全球新视野
- 第一拖拉机股份有限公司 截 至2016年12月31日止年度之全年業績公告 （財 務 摘 要）, “东方红”为这个国家的“甜蜜产业”助力 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
Cuba Ministry of Finance
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