$480 million of ICBC and CDB debt financing for construction of housing in Mendoza Province
Pledged amount
$ 541457545.0511209
Adjusted pledged amount
$ 541457545.0511209
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
Argentina
Sector
Other social infrastructure and services (Code: 160)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Description
In 2013, the governor of Mendoza Province and the president of China Communication Construction Company (CCCC) signed a letter of intent in Beijing on November 14, 2013 for the investment and construction of houses in Mendoza Province. According to a proposed bill from Mendoza's Chamber of Deputies on August 19, 2014, the senate and chamber of deputies of Mendoza has sanctioned China Development Bank and the International and Commercial Bank of China to provide a $480 million loan for the project. The loan will be repaid over 15 years with an interest rate of 4.5%. As no evidence of loan agreement signing can be found, status coded as pledge for now.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Loan Details
Maturity
15 years
Interest rate
4.5%
Grant element (OECD Grant-Equiv)
25.0671%