Project ID: 30426

CDB provides $200 million loan to NBE for investment projects and SMEs (Linked to Project ID#30705 and ID#58774)

Commitment amount

$ 203700938.5

Constant 2017 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Egypt

Sector

Business and other services (Code: 250)

Flow type

Loan

Concessional

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2012

Description

On August 28, 2012, during Egyptian President Mohammed Morsi's state visit to China, China Development Bank (CDB) and the National Bank of Egypt (NBE) — a commercial bank that is wholly owned by the Government of Egypt — signed a $200 million loan agreement to finance investment projects in Egypt as well as small and medium sized enterprises (SMEs) in Egypt. The loan was provided on the following terms: an 8-year maturity, a 3-year grace period, and an annual interest rate of 6-month LIBOR (0.718% in August 2012) plus a 3.75% margin. No information on loan disbursements could be identified.

Additional details

Hong Kong Government News and and one of two reporters from Voice of America identify the USD $200,000,000 as a credit line rather than a soft loan. Given the loan's maturity, interest rate, and grace period, the coder maintains that the agreement does in fact refer to a loan as opposed to a credit line. The Loan's interest rate was calculated by finding the average USD LIBOR Overnight Rate for August 2012, .167%, and adding it to 3.75% as stipulated by the loan agreement, for a total interest rate of 3.971%.

Number of official sources

4

Number of unofficial sources

13

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

National Bank of Egypt [State-owned Bank]

Loan type

Non-Concessional

Maturity

8 years

Interest rate

4.468%

Grace period

3 years

Grant element

21.75852468%

Gurarantee provided

No

Insurance provided

No