Overview

China Construction Bank (Russia) Limited provides $17 million unsecured loan to GTLK Europe Designated Activity Company (DAC) for general corporate purposes

Commitments (Constant USD, 2023)$17,645,787

Commitment Year•2019Country of Activity•RussiaDirect Recipient Country of Incorporation•IrelandOverseas Jurisdiction•RussiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 22, 2019

Last repayment (originally scheduled): May 21, 2022

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

China Construction Bank (Russia) Limited (CCB (Russia))

Receiving agencies

State-owned companies

GTLK Europe Designated Activity Company (DAC)

Loan description

China Construction Bank (Russia) Limited provides $17 million unsecured loan to GTLK Europe Designated Activity Company (DAC) for general corporate purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On May 22, 2019, GTLK Europe Designated Activity Company (DAC) -- a wholly owned subsidiary of GTLK Europe -- and China Construction Bank (Russia) Limited entered into an unsecured loan agreement for USD 17 million with a three-year tenor for general corporate purposes.

Staff comments

1. GTLK Europe Designated Activity Company provides aircraft finance and leasing services. GTLK is Russia's largest leasing company. 2. China Construction Bank (Russia) Limited is a fully licensed bank operating in Russia, providing comprehensive banking services to both corporate and individual clients. It is a subsidiary of China Construction Bank Corporation, one of the world's largest banks