Overview

ICBC provides $40 million loan to Banque Pour Le Commerce Exterieur Lao Public (BCEL) for on-lending purposes in 2018

Commitments (Constant USD, 2023)$40,251,852

Commitment Year•2018Country 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

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2018

Last repayment (originally scheduled): Jan 1, 2019

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 $40 million loan to Banque Pour Le Commerce Exterieur Lao Public (BCEL) for on-lending purposes in 2018

Grant element•2.0706%Interest rate (t₀)•5.35%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

In 2018, the Vientiane Branch of the Industrial and Commercial Bank of China (ICBC) signed a $40 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 5.35% interest rate and 1 1-year maturity.

Staff comments

1. The loan carried a fixed 5.35% interest rate and 1-year maturity, with repayment scheduled for 2019. However, no source has been identified confirming repayment status. Pending further evidence, project status remains coded as Implementation.