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Overview

China Development Bank provides $80 million loan to BICE to support projects that promote agro-industrial exports, SME ventures, energy generation and investment projects undertaken in Argentina by Chinese companies (Linked to Record ID#54558 and #54559)

Commitments (Constant USD, 2023)$86,705,427
Commitment Year•2012Country of Activity•ArgentinaDirect Recipient Country of Incorporation•ArgentinaSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2012
Last repayment
Dec 30, 2018

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

State-owned Banks

  • Bancó de Inversión y Comercio Exterior (BICE) S. A.

Loan desecription

China Development Bank provides $80 million loan to BICE to support projects that promote agro-industrial exports, SME ventures, energy generation and investment projects undertaken in Argentina by Chinese companies

Interest type•UnknownMaturity•7 years

Narrative

Full Description

Project narrative

In 2012, the China Development Bank provided a loan worth $80 million to Argentinian Bank BICE (Banco de Inversión y Comercio Exterior) for projects that promote agro-industrial exports, SME ventures, energy generation and investment projects undertaken in Argentina by Chinese companies. These funds were part of an agreement between the CDB and Argentina to provide $140 million in three tranches. The loan carried a 7-year maturity.

Staff comments

1. A Ministry of Commerce source in 2017 stated that between 2007-2015, China Development Bank provided 3 loans to BICE worth $140 million. 2. This project is linked to Record ID#54558 and #54559, which capture the other loans that make up the $140 million financing package.