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 Project ID#54558 and #54559)
Commitment amount
$ 93929884.63406761
Adjusted commitment amount
$ 93929884.63
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Argentina
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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 Project ID#54558 and #54559, which capture the other loans that make up the $140 million financing package.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Bancó de Inversión y Comercio Exterior (BICE) S. A. [State-owned Bank]
Loan Details
Maturity
7 years