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[China-Venezuela Joint Fund] CDB funds USD 25 million lightbulb replacement effort (linked to Record ID#58677 and 38316)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund |
| Country | Venezuela |
| Start Date | Sep 23, 2013 |
| End Date | Jul 23, 2033 |
| Duration | 7,243 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 94075 |
Grant Description
[China-Venezuela Joint Fund] CDB funds USD 25 million lightbulb replacement effort On September 23, 2014, the Minister of People's Power for Electricity announced a number of new projects financed by Tranche C of the China-Venezuela Joint Fund (see Record ID#38316). One such project involved replacing incandescent lightbulbs with LED bulbs to save energy.
This was the second stage of lightbulb substitution. 22 million new lightbulbs were to be distributed across the country, which would save 600 MW of electricity each year. The project was implemented in multiple states, including Tachira, Vargas, and Barinas.
It was part of a broader initiative to save energy called "Misión Revolución Energética" and was implemented by CORPOELEC, the Venezuelan state-owned electricity company, and the Ministry of People's Power for Electrical Energy (MPEE).
Staff Comments
1. No transaction amount is recorded for this project because it is captured in project ID#38316.
Sources & References
- MPPEE Invertirá $ 5 mil millones para la acometida de importantes proyectos para el SEN
- Nueva etapa de sustitución de bombillos ahorradores inició en Vargas
- Informó ministro Jesse Chacón En Venezuela más de 5 millones de bombillos incandescentes han sido sustituidos por ahorradores
- Más de 2 mil bombillos ahorradores fueron sustituidos en Ándres Bello (+VIDEO) 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.
All Grantees
Banco de Desarrollo Económico y Social de Venezuela (BANDES)|China-Venezuela Joint Fund
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