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Overview

Bank of China provides a loan for the USC Center in Los Angeles

Commitment Year•2023Country of Activity•United StatesDirect Recipient Country of Incorporation•UnknownSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 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 Commercial Banks

  • Bank of China (BOC)

Receiving agencies

Private Sector

  • Unspecified borrower for the USC Center in Los Angeles

Loan description

Bank of China provides a loan for the USC Center in Los Angeles

Interest type•Unknown

Narrative

Full Description

Project narrative

Prior to January 2023, Bank of China U.S.A. (BOC) issued a loan to an unspecified borrower for the USC Center in Los Angeles, a commercial real estate project.

Staff comments

1. While Raymond Qiao, chief lending officer of BOC U.S.A. used the term "financing solution", AidData has assumed that BOC issued a loan for this project. This issue merits further investigation. 2. There is very little information available on this project, excepting the Qiao interview. It is unclear whether "USC" refers to the University of Southern California (USC), the private research university, which is located in Los Angeles, or even if this project was for construction or refinancing of the commercial real estate asset in question. The precise commitment date is unknown, but given that the interview was released in January 2023, the financing must have been issued prior to January 2023. These issue merit further investigation.