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Overview

CDB provides $50 million loan to BMCE Bank for on-lending to SMEs

Commitments (Constant USD, 2023)$56,824,857
Commitment Year•2011Country of Activity•MoroccoDirect Recipient Country of Incorporation•MoroccoSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Nov 7, 2011
End (actual)
May 1, 2012
Last repayment (originally scheduled)
Dec 31, 2015

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

Private Sector

  • BMCE Bank of Africa

Implementing agencies

Private Sector

  • BMCE Bank of Africa

Loan description

CDB provides $50 million loan to BMCE Bank for on-lending to SMEs

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

On April 21, 2011, China Development Bank (CDB) and the Moroccan Bank of Foreign Commerce (BMCE Bank or 摩洛哥外贸银行 or البنك المغربي للتجارة الخارجية‎) — a privately owned commercial bank — signed a Memorandum of Understanding (MoU) for the financing of small- and medium-sized enterprises (SMEs) in Morocco. Then, on November 7, 2011, the parties signed a $50 million loan agreement — with a 5 year maturity — to facilitate on-lending to SMEs (captured in Record ID#55967). By May 2012, the CDB loan had fully disbursed and supported 51 Moroccan SMEs. Then on May 17, 2012, CDB issued a second loan to BMCE Bank (captured in Record ID#85298). However, the face value, borrowing terms, and purpose of the second loan are unknown.

Staff comments

1. The Chinese project title is 摩洛哥外贸银行转贷项目. 2. The sector code variable has been coded as ‘320 - Industry, Mining, and Construction’ based on the description of CRS Code 32130.