Project ID: 42175

CDB pledges EUR 30 million loan to Bulgarian Development Bank for on-lending to SMEs (Linked to Project ID#42174)

Pledged amount

$ 62597401.722658634

Adjusted pledged amount

$ 62597401.722658634

Constant 2021 USD

Not recommended for aggregates

This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.

Summary

Funding agency [Type]

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

Recipient

Bulgaria

Sector

Industry, mining, construction (Code: 320)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

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: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-10-15

Description

On October 15, 2009, the state-owned Bulgarian Development Bank (BDB) announced that China Development Bank would extend it two credit lines worth a combined EUR 35 million ($52.3 million). The value of the first credit agreement (captured in Project ID#42174), which was signed on October 15, 2009, was EUR 5 million and it was signed Dimitar Dimitrov and Sasho Tchakalski, Executive Directors of BDB, and by Zhao Jianping, Assistant Governor of China Development Bank. Boiko Borissov, Prime Minister of Bulgaria and Xi Jinping, China’s Vice President, were also present at the signing ceremony. The proceeds from this credit line were to be used by the borrower to issue long-term loans to small and medium-sized enterprises (SMEs). The borrowing terms of this credit line are unknown. However, it is known that no sovereign guarantee was issued in support of the credit line. The second credit agreement (captured in Project ID#42175), which was worth EUR 30 million, was expected to be signed in November 2009. However, it does not appear that it was ever finalized.

Additional details

This CDB loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.

Number of official sources

2

Number of total sources

7

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Bulgarian Development Bank (BDB) [State-owned Bank]

Implementing agencies [Type]

Bulgarian Development Bank (BDB) [State-owned Bank]

Loan Details

Bilateral loan

Inter-bank loan