Active Development AidData Chinese Aid

Governments of China and Colombia sign Economic and Technical Cooperation Agreement for 20 million RMB interest-free credit line (April 2005)

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Colombia
Country	Colombia
Start Date	Apr 06, 2005
End Date	Jul 04, 2030
Duration	9,220 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85636`

Grant Description

Governments of China and Colombia sign Economic and Technical Cooperation Agreement for 20 million RMB interest-free credit line (April 2005) On April 6, 2005, the Viceminister of Commerce, on behalf of the Government of China, and the Minister of Foreign Relations, on behalf of the Government of Colombia, signed an Economic and Technical Cooperation Agreement (ETCA) which provided the latter with a 20 million RMB interest free credit line.

📋 Loan / Grant Terms

💰 Loan Amountline was to be available for 5 years

⏳ Grace Period10 years

The funds were to be used for either economic and technical cooperation projects or the supply of general materials, but the exact projects to be financed would be decided by the two governments at a later date.

The National Planning Department of Colombia (Departameto Nacional de Planeación) and the Colombian Ministry of Finance and Public Credit (Ministerio de Hacienda y Credito Publico) were responsible for the execution of associated projects, with the National Planning Department working with the Chinese government to decide on projects to be financed.

Additionally, the Ministry of Finance and Public Credit, along with the Bank of China, was responsible for banking procedures.

The Colombian Government will repay the Chinese Government the amount of the aforementioned credit with freely convertible currency or Colombian exportable goods, to be agreed upon by the two Governments.

📋 Staff Comments

Although which projects were financed are unknown, shipping containers and inspection equipment handed over May 2010, without a known source of funding, may have been one of the projects funded (see project 37145).

📚 Sources & References

CONVENIO SOBRE LA COOPERACION ECONOMICA Y TECNICA ENTRE EL GOBIERNO DE LA REPUBLICA DE COLOMBIA Y EL GOBIERNO DE LA REPUBLICA POPULAR CHINA 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.