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Overview

ABC provides export credit to Trade and Development Bank of Mongolia to finance imports from China

Commitments (Constant USD, 2023)$410,257
Commitment Year•2011Country of Activity•MongoliaDirect Recipient Country of Incorporation•MongoliaSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 1, 2011
First repayment (originally scheduled)
Dec 28, 2016
Last repayment (originally scheduled)
Dec 28, 2018

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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ABC provides export credit to the Trade and Development Bank of Mongolia, located at WW8C+RXQ, Ulaanbaatar, Mongolia. More detailed locational information can be found at https://www.openstreetmap.org/way/242304511.

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 Commercial Banks

  • Agricultural Bank of China (ABC)

Receiving agencies

State-owned Banks

  • Trade and Development Bank of Mongolia

Implementing agencies

State-owned Banks

  • Trade and Development Bank of Mongolia

Loan description

ABC provides export credit to Trade and Development Bank of Mongolia to finance imports from China

Grace period•5.5 yearsInterest type•UnknownMaturity•7.5 years

Narrative

Full Description

Project narrative

In July 2011, the Trade and Development Bank of Mongolia and the Agricultural Bank of China (ABC) signed an export credit agreement to finance imports from China. The loan proceeds were to be used by the borrower to finance imports from China. The repayment dates for the loan varied in accordance with the maturity lengths of the various subsidiary loans that Trade and Development Bank of Mongolia issued (on-lent) to different borrowers. The outstanding balance of the ABC loan amounted to RMB 2,333,600 (MNT 835,336 thousand) as of December 31, 2016, and RMB 1,500,000 (MNT 461,310 thousand) as of December 31, 2015. The loan was fully repaid and there was no outstanding loan balance as of December 31, 2017.

Staff comments

1. The export credit agreement that was signed in July 2011 is also known as the Import Finance Facility Agreement and the Export Trade Agreement. 2. The face value of the export credit agreement is unknown. For the time being, AidData relies on the highest recorded (principal) amount outstanding (RMB 2,333,600) under the export credit agreement as a proxy.