Overview

China Eximbank provides $250 million export credit to Eastern and Southern African Trade and Development Bank for on-lending purposes

Commitments (Constant USD, 2023)$266,031,595

Commitment Year•2017Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 1, 2017

Start (actual): Dec 1, 2017

Last repayment (originally scheduled): Nov 30, 2022

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

Intergovernmental Organizations

Eastern and Southern African Trade and Development Bank (TDB)

Loan description

China Eximbank provides $250 million export credit to Eastern and Southern African Trade and Development Bank for on-lending purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

In December 2017, China Eximbank signed a $250 million export credit agreement (ECA) with the Eastern and Southern African Trade and Development Bank (TDB), formerly known as the PTA Bank. According to the 2018 newsletter published by TDB, the purpose of the ECA is 'to support TDB’s general corporate, trade finance and project and infrastructure business.' This loan has a five year maturity and it was disbursed in December 2017.

Staff comments

1. The membership of the TDB includes twenty-two member states, nineteen of which are COMESA members. The People's Republic of China was the first non-regional member state to join TDB in 2000. The African Development Bank (ADB) is a major institutional shareholder, alongside eleven other institutional investors, including the Arab Bank for Economic Development in Africa (BADEA) and OPEC Fund for International Development (OFID)