Skip to content
AidData logo

Overview

Bank of Inner Mongolia contributes to 1 billion RMB syndicated loan to Sberbank for trade financing

Commitments (Constant USD, 2023)$55,483,356
Commitment Year•2015Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 2, 2015
Last repayment (originally scheduled)
Sep 1, 2016

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

  • Bank of Inner Mongolia Co., Ltd. (formerly Hohhot City Commercial Bank)

Cofinancing agencies

Private Sector

  • Baoshang Bank
  • Harbin Bank

Receiving agencies

State-owned Banks

  • Sberbank

Loan description

Bank of Inner Mongolia contributes to RMB 1 billion syndicated loan to Sberbank for trade financing in Russia in 2015

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On September 2, 2015, Sberbank -- a Russian majority state-owned banking and financial services company headquartered in Moscow — signed an RMB 1 billion syndicated loan agreement with Harbin Bank, Baoshang Bank, and the Bank of Inner Mongolia. Harbin Bank acted as the lead arranger. The loan carried a 1 year maturity, but other lending terms are unknown. The loan proceeds were to be used for trade facilitation with China.

Staff comments

1. At the time this loan was signed, while Harbin Bank's largest shareholder was Harbin Economic Development and Investment Company (owned by the Harbin State-owned Assets Supervision and Administration Commission), the bank was still majority-owned by private shareholders. As such, AidData has not created a separate record capturing Harbin Bank's contribution to the syndciate. 2. The individual contributions by members to the 1 billion RMB syndicate are unknown. For the time being, AidData assumes each of the three members contributed equally to the total (333,333,333.33 RMB). This issue warrants further investigation.