China Development Bank provides $50 million line of credit agreement to Southern African Trade and Development Bank for on-lending purposes (Linked to Project ID#59592)
Commitment amount
$ 76229296.09745254
Adjusted commitment amount
$ 76229296.1
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [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 September 2008, China Development Bank signed a $50 million line of credit agreement with Southern African Trade and Development Bank (TDB, also known as the Trade and Development Bank, formerly the PTA Bank). According to the annual report, the credit will help in "augmenting the Bank’s resource capacity in order to fund more projects in its Member States." As of December 31st, 2008, $18 million of the facilities had been used. By December 31st, 2013, the full amount, totaling to $54,721,414 had been withdrawn, with a maturity date of March 2020 and $3,271,429 due within one year.
Additional details
The discrepancy between the $50 million initial value and the 2013 $54 million drawn down amount reflects the inflation rate during that period.
Number of official sources
6
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Eastern and Southern African Trade and Development Bank [Intergovernmental Organization]
Loan Details
Maturity
5 years