Overview

ICBC contributes to $44 million club loan to State Oil Company of the Azerbaijan Republic (SOCAR)

Commitments (Constant USD, 2023)$23,995,875

Commitment Year•2016Country of Activity•AzerbaijanDirect Recipient Country of Incorporation•AzerbaijanOverseas Jurisdiction•TurkeySector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 25, 2016

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

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

Goldman Sachs Group, Inc.

Receiving agencies

State-owned companies

State Oil Company of the Azerbaijan Republic (SOCAR)

Loan description

Industrial and Commercial Bank of China contributes to $44 million club loan to State Oil Company of the Azerbaijan Republic (SOCAR)

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 25, 2016, ICBC Turkey partnered with Goldman Sachs to issue a $44 million club loan to the State Oil Company of the Azerbaijan Republic (SOCAR) for unspecified purposes.

Staff comments

1. The exact monetary size of ICBC’s contribution to the club loan is unknown. For the time being, AidData assumes equal contributions ($22 million) across the two members of the club loan.