Overview

CDB provides $100 million loan to the Industrial Development Corporation of South Africa Limited (IDC) for on-lending purposes

Commitments (Constant USD, 2023)$108,381,783

Commitment Year•2012Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

Start (actual): Mar 1, 2013

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 Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned companies

Industrial Development Corporation of South Africa Ltd (IDC)

Implementing agencies

State-owned companies

Industrial Development Corporation of South Africa Ltd (IDC)

Loan description

CDB provides $100 million loan to the Industrial Development Corporation of South Africa Limited (IDC) for on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2012, China Development Bank (CDB) and Industrial Development Corporation of South Africa Limited (IDC) signed a $100 million loan agreement for on-lending purposes. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to on-lend to SMEs and 'livelihood projects'. The first loan disbursement of $37.91 million took place in March 2013.

Staff comments

1. The Industrial Development Corporation of South Africa Limited (IDC) is a state-owned development finance institution that provides funding and support for industrial development in South Africa and Africa. 2. This CDB loan was not included in the database of Chinese loan commitments that SAIS-CARI released in 2020 and re-released in 2021. Nor was it included it in the Chinese Loans to Africa (CLA) Database — that is maintained by Boston University's Global Development Policy Center — as of September 2024.