Project ID: 58685

China Development Bank pledges USD 1 billion loan to South Africa Standard Bank

Pledged amount

$ 1152338157.0209737

Adjusted pledged amount

$ 1152338157.0209737

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

South Africa

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-09-01

Description

In August 2017, during the 7th BRICS Financial Forum, the China Development Bank (CDB) and the Standard Bank of South Africa signed a Memorandum of Understanding for CDB to provide a loan of USD 1 billion dollars to the Standard Bank. These funds would be used to improve the financing capacity of small- and medium-sized enterprises in Africa and promote economic and social development across the continent.

Additional details

could not find any additional sources for this loan; it seems like it was pledged but never followed up. The terms of the loan are unknown, and it is not certain that CDB and Standard Bank ever actually signed an agreement for this loan.

Number of official sources

1

Number of total sources

1

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Standard Bank of South Africa Limited (Standard Bank) [Private Sector]

Loan Details

Bilateral loan

Inter-bank loan