Overview

ICBC provides $80 million loan to Banque Pour Le Commerce Exterieur Lao Public (BCEL) for on-lending purposes in 2019

Commitments (Constant USD, 2023)$83,038,999

Commitment Year•2019Country of Activity•Lao People's Democratic RepublicDirect Recipient Country of Incorporation•Lao People's Democratic RepublicOverseas Jurisdiction•Lao People's Democratic RepublicSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2019

Start (actual): Jan 1, 2019

End (actual): Jan 1, 2020

First repayment (originally scheduled): Jan 1, 2020

Last repayment (originally scheduled): Jan 1, 2020

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)

Receiving agencies

State-owned Banks

Banque Pour le Commerce Exterieur Lao Public

Loan description

ICBC provides $80 million loan to Banque Pour Le Commerce Exterieur Lao Public (BCEL) for on-lending purposes in 2019

Grant element•2.0002%Interest rate (t₀)•5.5%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

In 2019, the Vientiane Branch of the Industrial and Commercial Bank of China (ICBC) signed an $80 million loan agreement with Banque Pour Le Commerce Exterieur Lao Public (BCEL) -- a state-owned commercial bank based in Vientiane, Laos -- for on-lending purposes. The loan carried a 5.5% interest rate and 1 1-year maturity.

Staff comments

1. Lifecycle dates are estimated based on a 1-year maturity with assumed implementation starting in early 2019 and concluding in early 2020. Project status set to ‘Completion’ as there is no evidence of restructuring or rollover.