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Overview

CDB provides RMB-denominated $200 million loan to BBVA Perú for working capital and trade financing purposes (Linked to Record ID#36364)

Commitments (Constant USD, 2023)$204,718,800
Commitment Year•2023Country of Activity•PeruDirect Recipient Country of Incorporation•PeruSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 5, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Private Sector

  • Banco BBVA Perú (formerly BBVA Banco Continental)

Loan description

CDB provides RMB-denominated $200 million loan to BBVA Perú for working capital and trade financing purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 5, 2023, the Hong Kong Branch of China Development Bank (CDB) and Banco BBVA Perú signed an RMB-denominated $200 million loan (term facility) agreement for working capital and trade financing purposes. The borrowing terms of the loan are unknown.

Staff comments

1. BBVA Perú began operating in Peru in 1951 under the name Banco Continental (or BBVA Banco Continental). The entity has operated internationally since its integration into Banco Bilbao Vizcaya in 1995, and has operations in 35 countries. It consolidated its current name and brand in 2019. 2. The Peruvian firm Payet, Rey, Cauvi, Pérez Abogados (Lima) and the Chinese firm DeHeng Law served as legal counsel to China Development Bank. 3. Although the loan was denominated in RMB, its RMB face value is unknown. For the time being, AidData has estimated the RMB face value of the loan by using the prevailing USD-to-RMB exchange rate (1 USD = RMB 7.2475) on the loan commitment date (July 5, 2023). However, this issue warrants further investigation.