Overview

CDB provides $90 million loan to Banreservas in 2023

Commitments (Constant USD, 2023)$90,010,097

Commitment Year•2023Country of Activity•Dominican RepublicDirect Recipient Country of Incorporation•Dominican RepublicSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 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

State-owned Banks

Reserve Bank of the Dominican Republic (Banreservas)

Loan description

CDB provides $90 million loan to Banreservas in 2023

Interest rate (t₀)•7.03%Interest type•Fixed Interest Rate

Narrative

Full Description

Project narrative

In 2023, China Development Bank (CDB) issued a $90 million (DOP 5,038,371,010) loan to Banreservas, the Dominican Republic's state-owned commercial bank. The loan carried a fixed interest rate of 7.03% and was listed among the bank’s foreign liabilities in its 2023 financial statements published by the Dominican banking regulator (Superintendencia de Bancos). The loan was unsecured ("sin garantía") and was originally denominated in U.S. dollars. Other details, including maturity and use of proceeds, are not disclosed.

Staff comments

1. Implementation status justified because the funds are reported as part of outstanding liabilities in 2023, indicating disbursement has occurred.