Completed Development AidData Chinese Aid

[China-Venezuela Joint Fund] CDB funds USD 100 million project to acquire special units for the electrical sector (linked to Record ID#58677, 94080, 94081, and 94082 )

Funder	China Development Bank (CDB)
Recipient Organization	Banco de Desarrollo Económico y Social de Venezuela (BANDES)\|China-Venezuela Joint Fund
Country	Venezuela
Start Date	Mar 31, 2014
End Date	Sep 29, 2028
Duration	5,296 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`94084`

Grant Description

[China-Venezuela Joint Fund] CDB funds USD 100 million project to acquire special units for the electrical sector On March 31, 2014, the Venezuelan government approved the use of USD 375 million from the China-Venezuela Joint Fund (see Record ID#58377) for four projects to improve of the national electricity system (Spanish: Sistema Eléctrico Nacional (SEN)).

One of these projects was called "Project for the Acquisition of Specialized Units for the Electricity Sector" (Spanish: Proyecto de Adquisición de Unidades Especializadas para el Sector Eléctrico).

This project cost USD 100 million and involved purchasing new equipment for the Venezuelan electricity system, such as washers.

The project was implemented by CORPOELEC, the Venezuelan state-owned power company, and the Ministry of People's Power for Electric Energy (MPEE). It is unclear when this project was officially started, or if it was ever completed.

The other projects for which the USD 375 million was allocated were USD 100 million for the National Public Lighting Plan (see Record ID#94080), USD 93 million for new transmission substations (see Record ID#94081), and USD 80 million for the Plan to Eliminate Illegal Taps (see Record ID#94082).

📋 Staff Comments

No transaction amount is recorded for this project because it is captured in project ID#58677.
This project and its linked projects were committed relatively late in the China-Venezuela Joint Fund. It is unclear which tranche the funding came from, but it is most likely from Tranche C (see project ID#38316), which financed other electricity projects.

📚 Sources & References

Jesse Chacón: Más de 373 millones de dólares fueron aprobados para el mejoramiento del SEN
Anunció el ministro de Jesse Chacón: Gobierno Nacional invertirá $ 373 millones para mejoras del sistema eléctrico
MPPEE impulsará proyectos de empresas relacionadas con la producción de insumos eléctricos 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.