China Eximbank provides $250 million export credit to Eastern and Southern African Trade and Development Bank for on-lending purposes
Commitment amount
$ 288084539.2552434
Adjusted commitment amount
$ 288084539.26
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Africa, regional
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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)
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Eastern and Southern African Trade and Development Bank [Intergovernmental Organization]
Loan Details
Maturity
5 years