Overview

CDB provides $500 million loan to Standard Bank of South Africa Limited for on-lending purposes in July 2018

Commitments (Constant USD, 2023)$503,148,147

Commitment Year•2018Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 25, 2018

Last repayment (originally scheduled): Jul 23, 2025

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

Standard Bank of South Africa Limited (Standard Bank)

Loan description

CDB provides $500 million loan to Standard Bank of South Africa Limited for on-lending purposes in July 2018

Interest type•UnknownMaturity•7 years

Narrative

Full Description

Project narrative

During July 25-27, 2018, when the 10th BRICS Summit was held in Johannesburg, China Development Bank (CDB) and the Standard Bank of South Africa signed a $500 million loan agreement. The borrower was expected to use the proceeds of the loan to on-lend to small- and medium-sized enterprises (SMEs). The loan carried a 7-year maturity. The other borrowing terms of the loan are unknown. By December 2019, the loan had achieved a 60% disbursement rate ($300 million out of $500 million).