Chinese government loans 30 million RMB interest-free to Government of Ecuador through ETCA (November 2002)

¥30M RMB

Funder	China Ministry of Commerce
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Nov 28, 2002
End Date	Jun 08, 2030
Duration	10,054 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88225`

Grant Description

Chinese government loans 30 million RMB interest-free to Government of Ecuador through ETCA (November 2002) On November 28, 2002, representatives of the governments of China and Ecuador signed an Economic and Technical Cooperation Agreement (ETCA) that provided the government of Ecuador a 30 million RMB interest-free credit line.

The credit line could be used for five years, between January 1, 2003, and December 31, 2007. 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 January 1, 2013, and December 31, 2022. The loan could be repaid in either currency or exportable goods.

The projects to be financed by this credit line were unspecified at the time the agreement was signed, and banking procedures were to be handled by the Central Bank of Ecuador and the Bank of China.

📚 Sources & References

CONVENIO DE COOPERACION ECONOMICA y TECNICA ENTRE EL GOBIERNO DE LA REPUBLICA DEL ECUADOR 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.