China Construction Bank provides ZAR 140 million loan to Transnet for working capital purposes (Linked to Project ID#60067)
Commitment amount
$ 24977541.06211397
Adjusted commitment amount
$ 24977541.06
Constant 2021 USD
Summary
Funding agency [Type]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
South Africa
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On March 18, 2009, Transnet, a state-owned South African railway company, announced that it had signed a loan agreement worth ZAR 140 million with the Johannesburg Branch of China Construction Bank. The proceeds from this loan were earmarked for Transnet’s working capital needs and its capital investment program. The borrowing terms of the loan are unknown. In 2010, CCB loaned ZAR 500 million to Transnet (as captured via Project ID#60067), leading to an accumulated loan total of ZAR 640 million in 2010.
Additional details
1. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Number of official sources
4
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Transnet [State-owned Company]