Active Development AidData Chinese Aid

Chinese government loans 20 million RMB interest-free credit line through February 2009 Economic and Technical Cooperation Agreement

¥20M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Feb 13, 2009
End Date	Sep 09, 2030
Duration	7,878 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88169`

Grant Description

Chinese government loans 20 million RMB interest-free credit line through February 2009 Economic and Technical Cooperation Agreement On February 13, 2009, representatives of the governments of China and Ecuador signed an Economic and Technical Cooperation Agreement (ETCA), which provided the government of Ecuador a 20 million RMB interest-free line of credit.

Per the original ETCA, the credit line could be used for five years, between May 1, 2009, and April 30, 2014. Following was five years of additional grace (for a total grace period of ten years). The ten year repayment period took place following this, between May 1, 2019, and April 30, 2029.

However, in Letters of Exchange signed and countersigned January 7, 2015, the period over which the funds could be used was moved to between May 1, 2014, and April 30, 2019. The repayment period was additionally postponed to between May 1, 2024, and April 30, 2034. The projects funded through this credit line were unspecified at the time the agreement was signed and remain unknown.

Banking procedures were handled by the Central Bank of Ecuador and the China Development Bank. The credit line could be repaid via currency or through exportable goods.

📋 Staff Comments

This project should not be confused with #35845, which captures another ETCA providing a 20 million RMB credit line, but was signed in November, not February, 2009; nor should it be confused with #35851, which captures another ETCA signed on February 13, 2009, but which provided a 30 million RMB grant, not an interest-free credit line.

📚 Sources & References

CONVENIO DE COOPERACIÓN ECONÓMICA Y TÉCNICA ENTRE EL GOBIERNO DE LA REPÚBLICA DEL ECUADOR Y EL GOBIERNO DE LA REPÚBLICA POPULAR CHINA
Letter of Exchange No. 15544/GM/SAAO/DAO/2015 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.