Overview

CDB provides $100 million loan to Absa Bank for on-lending to small- and medium-sized enterprises

Commitments (Constant USD, 2023)$106,412,638

Commitment Year•2017Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 18, 2017

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

Absa Group Ltd. (ABGL) (Formerly Barclays Africa Group Limited)

Loan description

CDB provides $100 million loan to Absa Bank for on-lending to small- and medium-sized enterprises

Interest type•Unknown

Narrative

Full Description

Project narrative

In August 18, 2017, China Development Bank (CDB) and Absa Bank Limited, a subsidiary of Barclay's Africa Group, concluded a five-year $100 million Special Facility Agreement. The loan was to be used by Absa Bank to assist small- and medium-sized enterprises (SMEs) who face funding shortages. The initial drawdown was based on Absa Bank’s funding needs at that time. The borrowing terms of the loan are unknown.