Active Development AidData Chinese Aid

Chinese government pledges 3 billion RMB loan to Government of Ecuador

¥3M RMB

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Nov 17, 2016
End Date	Jan 15, 2028
Duration	4,076 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85569`

Grant Description

📋 Loan / Grant Terms

💰 Loan Amountto Government of Ecuador During Xi Jinping's visit to Ecuador on November 17

💹 Interest Rate2%

In February 2017, President of Ecuador Rafael Correa suggested this loan could be used for the rebuilding and modernization of Pedernales following the April 2016 earthquake. However, a loan contract associated with this amount has not been signed.

📋 Staff Comments

Reporting about Xi Jinping's November 17, 2016 visit indicate 11 agreements were signed. Of these agreements, the text of six are available at http://sitrac.cancilleria.gob.ec/sitrac/Consultas/Busqueda.aspx (search 'CHN' and sort by signed date), and five are listed on '中国同厄瓜多尔的关系.' Neither of these sources include a 3 billion RMB loan contract was signed. It may be that it was provided in one of the agreements not available, though reporting around the trip does not mention such an agreement, and a subsequent project funded by such a loan has not been identified. As such, project has been set to 'pledge,' due to apparent lack of loan contract. 'Las primeras viviendas del reasentamiento Ciudad Jardín de Pedernales se entregarán en abril' was published February 28, 2017.

📚 Sources & References

Las primeras viviendas del reasentamiento Ciudad Jardín de Pedernales se entregarán en abril
China promete ayuda a Ecuador
Ecuador y China elevan el nivel de su relación durante la visita de Xi Jinping
中国同厄瓜多尔的关系 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.