Completed Development AidData Chinese Aid

Chinese Government cancels $747,900 of debt accrued for Quito Education Center Project (Linked to Record ID#85568 and #88259)

$747.9K USD

Funder	China Ministry of Commerce
Recipient Organization	Government of Ecuador
Country	Ecuador
Start Date	Jan 01, 2012
End Date	Nov 23, 2028
Duration	6,171 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88260`

Grant Description

On February 1, 2005, the Chinese Government and the Government of Ecuador signed letters of exchange, committing an unknown amount of funding to the Quito Education Center Project (Proyecto de Centro Educativo de Quito) (as captured via Record ID#98658).

However, in letters of exchange signed by the two governments on November 14, 2011 and April 13, 2012, the project was cancelled at the request of the Government of Ecuador.

At that point, the preliminary design and detailed project preparation work had already taken place (at a cost of $1,521,100).

Part of the cost ($747,900) was cancelled through the November 2011/April 2012 letters of exchange (as captured via Record ID#88260). $773,200 was still owed, and was drawn from an interest-free credit line through an Economic and Technical Cooperation Agreement (ETCA), which was signed on March 21, 1994 (as captured via Record ID#88259).

📋 Staff Comments

This record is not coded as an umbrella record due to no apparent risk of over counting.
The grant associated with a feasibility study for the Center is captured via Record ID#85568. The feasibility study appears to have been supported by a separate financial commitment through letters of exchange signed by the two governments in 2004 and not the letters of exchange signed by the two governments in February 2005.

📚 Sources & References

CONVENIO DE COOPERACION ECONOMICA y TECNICA ENTRE EL GOBIERNO DE LA REPUBLICA DEL ECUADOR Y EL GOBIERNO DE LA REPUBLICA POPULAR CHINA
Letters of Exchange No. 2956 SAAO/DRBAAO/2012 and N.O.No.(2011) 046 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.