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Overview

China Development Bank extends loan of 30 million USD to Interbank in Peru (possible linked to Record ID#36363)

Commitments (Constant USD, 2023)$34,094,914
Commitment Year•2011Country of Activity•PeruDirect Recipient Country of Incorporation•PeruSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2011
Last repayment (originally scheduled)
Dec 31, 2015

Geospatial footprint

Map overview

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China Development Bank extends loan of 30 million USD to Interbank in Peru. More detailed locational information can be found at: https://www.openstreetmap.org/way/656096061

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

Private Sector

  • Banco Internacional del Perú S.A.A. (Interbank Peru)

Loan desecription

China Development Bank extends loan of 30 million USD to Interbank in Peru

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In 2011, Interbank, the flagship bank of Peruvian company Intergroup Financial Services (IFS), received a loan of $30 million from the China Development Bank to finance projects and businesses that stimulate trade between the two countries and Chinese investment in Peru. This is the first loan between the two banks, and it has a term of five years. This agreement is part of Interbank's business strategy to become the financial institution with which Peru can do business with China. Last year, Interbank and Bank of China established a joint service in Lima for investors of China, called China Desk. The Interbank loan portfolio reached 12.453mn soles (US $ 4.550mn) at the end of the first quarter, up 24.5% compared to the same time in 2010.