Overview

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

Commitments (Constant USD, 2023)$140,844,608

Commitment Year•2008Country of Activity•ChileDirect Recipient Country of Incorporation•ChileSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 14, 2008

Last repayment (originally scheduled): Aug 14, 2011

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 de Chile

Loan description

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

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

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.