Overview

CDB provides $200 million loan to Standard Bank of South Africa Limited for on-lending to SMEs in 2023

Commitments (Constant USD, 2023)$200,000,000

Commitment Year•2023Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2023

End (actual): Aug 1, 2023

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

Private Sector

Standard Bank of South Africa Limited (Standard Bank)

Loan description

CDB provides $200 million loan to Standard Bank of South Africa Limited for on-lending to SMEs in 2023

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2023, China Development Bank (CDB) and Standard Bank of South Africa Limited signed a $200 million loan agreement. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the loan proceeds to on-lend to small- and medium-sized enterprises (SMEs) in South Africa. It is also known that the loan was fully disbursed in August 2023.