Overview

China Development Bank provides $50 million line of credit agreement to Southern African Trade and Development Bank for on-lending purposes (Linked to Record ID#59592)

Commitments (Constant USD, 2023)$70,422,304

Commitment Year•2008Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 30, 2008

End (actual): Dec 31, 2013

Last repayment (originally scheduled): Dec 30, 2012

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

Intergovernmental Organizations

Eastern and Southern African Trade and Development Bank (TDB)

Loan description

China Development Bank provides $50 million line of credit agreement to Southern African Trade and Development Bank for on-lending purposes

Interest type•UnknownMaturity•5 years

Narrative

Full Description

Project narrative

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 By December 31st, 2013, the full amount, totaling to $54,721,414 had been withdrawn, with a maturity date of March 2020 and $3,271,429 due within one year.

Staff comments

The discrepancy between the $50 million initial value and the 2013 $54 million drawn down amount reflects the inflation rate during that period.