CDB provides $212 million loan for production of various types of high-tech aviation equipment (Linked to Project ID #42966)
Commitment amount
$ 460089470.11819965
Adjusted commitment amount
$ 460089470.12
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Russia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On July 1, 2005, China Development Bank and Vnesheconombank (VEB) — a Russian state-owned bank — signed a $212 million loan agreement for the pre-export activities of Russian companies and the production of various types of high-tech aviation equipment for eventual export to China. The loan has a 1-year grace period, a 3.5 year maturity, and an interest rate of 6-month LIBOR plus a 1% margin. The loan was scheduled for repayment from June 2006 to March 2009. CDB opened an additional 300 million USD credit line with VEB in November of the same year for similar purposes (see project ID #42966).
Additional details
1. AidData has estimated the all-in interest rate by adding 1% to average 6-month LIBOR in July 2005 (3.833%).
Number of official sources
5
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Vnesheconombank (VEB Bank or VEB.RF) [State-owned Bank]
Implementing agencies [Type]
Vnesheconombank (VEB Bank or VEB.RF) [State-owned Bank]
Loan Details
Maturity
4 years
Interest rate
4.833%
Grace period
1 years