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
Project lifecycle
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
Details
Cofinanced
No
Direct receiving agencies [Type]
Standard Bank of South Africa Limited (Standard Bank) [Private Sector]