Project ID: 58689

China Development Bank provides $500 million loan to Standard Bank of South Africa for on-lending to small- and medium-sized enterprises

Commitment amount

$ 544924873.9393383

Adjusted commitment amount

$ 544924873.94

Constant 2021 USD

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: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2018-07-25

Description

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), many of whom wish to export to China. The loan has a maturity length of 7 years, but its interest rate and grace period are unknown.

Additional details

Number of official sources

2

Number of total sources

3

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

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

Loan Details

Maturity

7 years

Bilateral loan

Inter-bank loan