Overview

China Eximbank provides EUR 50 million loan to Bulgarian Development Bank (BDB) for on-lending purposes in December 2023

Commitments (Constant USD, 2023)$54,063,431

Commitment Year•2023Country of Activity•BulgariaDirect Recipient Country of Incorporation•BulgariaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 5, 2023

Last repayment (originally scheduled): Dec 3, 2028

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

Bulgarian Development Bank (BDB)

Implementing agencies

State-owned Banks

Bulgarian Development Bank (BDB)

Loan description

China Eximbank provides EUR 50 million loan to Bulgarian Development Bank (BDB) for on-lending purposes in December 2023

Interest type•Variable Interest RateLoan tenor•3-month rateMaturity•5 years

Narrative

Full Description

Project narrative

On December 5, 2023, China Eximbank and Bulgarian Development Bank (BDB) signed an EUR 50 million loan agreement. The loan carries a 5-year maturity and an interest rate of 3-month EURIBOR plus an unspecified margin. The borrower is expected to use the proceeds of the loan to finance BDB's general lending activities and clients, medium-term or short-term transactions for trade finance, and other purposes after coordination with the lender. As of December 31, 2023, the loan had not yet disbursed.