Completed Development AidData Chinese Aid

[China-Venezuela Joint Fund] CDB Funds USD 219 Million Turmerito Housing Development (Linked to Record ID#58677 and 94091)

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|China-Venezuela Joint Fund
Country	Venezuela
Start Date	Apr 30, 2011
End Date	Mar 15, 2028
Duration	6,164 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`94037`

Grant Description

[China-Venezuela Joint Fund] CDB Funds USD 219 Million Turmerito Housing Development On November 27, 2011 100,000 houses were unveiled in the Turmerito Housing Development in Coche parish, Caracas (Spanish: Desarollo Turmerito). The project was funded by the China-Venezuela Joint Fund (see Record ID#58677).

The total project cost was USD 219,457,908.70.

This project was part of the Gran Mision Vivienda Venezuela (GMVV), a large-scale housing project started in April 2011 (see Record ID#94091). The project was implemented by the Ministry of People's Power for Housing and Habitat. The Gran Mision Vivienda Venezuela is also called Gran Misión Barrio Nuevo.

The new town constructed in Turmerito is also called Barrio Tricolor, after the colors of the Venezuelan flag. In 2015, residents complained that the apartments did not have electricity or clean water, and that they had leaks.

📋 Staff Comments

1. No transaction amount is recorded because it is captured in the China-Venezuela Joint Fund (project ID#58677)

📚 Sources & References

Presupuestos y Memoria y Cuenta 2010-2013, 10+: Gran Misión Vivienda Venezuela suma 2 millones de hogares entregados
En el urbanismo Barrio Tricolor tienen filtraciones hasta en los enchufes
Intervención del Comandante Presidente Hugo Chávez durante acto de entrega de viviendas en el desarrollo habitacional Santa Eduvigis, en el marco de la Gran Misión Vivienda Venezuela 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.