China Development Bank extends loan of 30 million USD to Interbank in Peru (possible linked to project #36363)
Commitment amount
$ 36896405.44023832
Adjusted commitment amount
$ 36896405.44
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Peru
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
In 2011, Interbank, the flagship bank of Peruvian company Intergroup Financial Services (IFS), received a loan of $30 million from the China Development Bank to finance projects and businesses that stimulate trade between the two countries and Chinese investment in Peru. This is the first loan between the two banks, and it has a term of five years. This agreement is part of Interbank's business strategy to become the financial institution with which Peru can do business with China. Last year, Interbank and Bank of China established a joint service in Lima for investors of China, called China Desk. The Interbank loan portfolio reached 12.453mn soles (US $ 4.550mn) at the end of the first quarter, up 24.5% compared to the same time in 2010.
Number of official sources
0
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Banco Internacional del Perú S.A.A. (Interbank Peru) [Private Sector]
Loan Details
Maturity
5 years