Overview

China Eximbank pledges loan to Rural Development Bank to support rice sector

Commitment Year•2013Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 2, 2013

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

Agricultural and Rural Development Bank

Loan desecription

China Eximbank pledges loan to Rural Development Bank to support rice sector

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 2, 2013, the Export-Import Bank of China signed a Memorandum of Understanding (MOU) agreement with the Rural Development Bank (RDB) to boost financing for Cambodia’s rice sector. China Eximbank's chairman, Li Ruogu, and RDB's president, Son Kunthor, signed the MOU in which China Eximbank pledged to provide loans to the RDB without the need for a government guarantee.

Staff comments

A loan agreement is not recorded in any of the Rural Development Bank annual reports between 2013-2019, so this pledge does not appear to ever have materialized into a commitment.