Project ID: 36918

CDB provides $100 million bullet loan to Banco de Chile for development projects

Commitment amount

$ 152458592.19490507

Adjusted commitment amount

$ 152458592.19

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Chile

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Commercial (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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2008-08-14

Description

On, August 14, 2008, China Development Bank and Banco de Chile (Bank of Chile) signed a three-year, $100 million bullet loan agreement. The first loan disbursement was part of a new free trade agreement signed by Chile and China in April 2008 during an official visit by Chilean President Michelle Bachelet to China. The purpose of the agreement, according to the Banco de Chile 2008 Third Quarter Results Report, was to finance Chilean exports. The Bank of Chile also signed an agreement with the CDB for mutual investment support. The borrowing terms of the loan were not disclosed.

Additional details

Number of official sources

7

Number of total sources

11

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Details

Cofinanced

No

Direct receiving agencies [Type]

Banco de Chile [Private Sector]

Loan Details

Maturity

3 years

Bilateral loan

Inter-bank loan

Investment project loan