Overview

China Construction Bank provides ZAR 140 million loan to Transnet for working capital purposes

Commitments (Constant USD, 2023)$105,464,119

Commitment Year•2009Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaOverseas Jurisdiction•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 18, 2009

Last repayment (originally scheduled): Mar 17, 2012

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 Commercial Banks

China Construction Bank Corporation (CCB)

Receiving agencies

State-owned companies

Transnet SOC Ltd

Loan description

China Construction Bank provides ZAR 140 million loan to Transnet for working capital purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On March 18, 2009, Transnet, a state-owned South African railway company, announced that it had signed a loan agreement with the Johannesburg Branch of China Construction Bank. The proceeds from the loan were earmarked for Transnet’s working capital needs and its capital investment program. The borrowing terms of the loan are unknown. The loan's (principal) amount outstanding was ZAR 140 million in 2009, ZAR 640 million in 2010, ZAR 640 million in 2011, and ZAR 0 in 2012.

Staff comments

1. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. 2. The loan commitment value is inferred based on the highest (principal) amount outstanding over the lifetime of the loan. 3. The loan's maturity is inferred based on the number of years that elapsed between the loan commitment year and the year in which the loan was fully repaid.