CDB pledges 39.9 million euro loan to Afriland First Bank for on-lending to SMEs
Pledged amount
$ 49662672.059171155
Adjusted pledged amount
$ 49662672.059171155
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
Cameroon
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On 18 June, 2015, Afriland First Bank Managing Director, Alphonse Nafack, and China Development Bank Board Chairman, Hu Huaibang, signed a framework agreement in which CDB pledged a 39.9 million euro loan. Afriland First Bank is a predominantly Cameroonian-capitalized banking institution The financing should allow the Cameroonian banking institution to boost its financial support to SMEs- entities and provide end-user financing to individuals to buy/build houses.
Number of official sources
1
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Afriland First Bank S.A. [Private Sector]