Overview

ICBC provides an AED 20 million loan to China Railway 18th Bureau Group LLC for unspecified purposes

Commitments (Constant USD, 2023)$5,696,709

Commitment Year•2015Country of Activity•United Arab EmiratesDirect Recipient Country of Incorporation•United Arab EmiratesOverseas Jurisdiction•United Arab EmiratesSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2015

Geospatial footprint

Map overview

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The purpose of this project was for ICBC to provide an AED 20 million loan to China Railway 18th Bureau Group LLC for unspecified purposes. More detailed locational information can be found at: https://www.openstreetmap.org/way/399875463

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

State-owned companies

China Railway 18th Bureau Group LLC (CR18BG)

Loan description

ICBC provides an AED 20 million loan to China Railway 18th Bureau Group LLC for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In January 2015, the Abu Dhabi Branch of the Industrial and Commercial Bank of China (ICBC) signed an AED 20 million facility agreement with China Railway 18th Bureau Group LLC (CR18BG) — a Dubai-incorporated and headquartered construction company and wholly-owned subsidiary of Chinese state-owned China Railway Construction Corporation (CRCC) — for unspecified purposes. This loan was first UAE dirham-denominated loan of an ICBC Middle East institution.