Project ID: 60067

China Construction Bank provides ZAR 500 million loan to Transnet for working capital purpose (Linked to Project ID#58429)

Commitment amount

$ 95126542.89169164

Adjusted commitment amount

$ 95126542.89

Constant 2021 USD

Summary

Funding agency [Type]

China Construction Bank Corporation (CCB) [State-owned Commercial Bank]

Recipient

South Africa

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (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

2010-01-01

Description

According to Transnet's 2010 annual financial statements, the Johannesburg branch of China Construction Bank issuedp a loan worth ZAR 500 million in 2010 to Transnet, a state-owned South African railway company. The proceeds of the loan were earmarked for Transnet’s working capital needs and its capital investment program. The borrowing terms of the loan are unknown. In 2009, China Construction Bank also provided a ZAR 140 million loan to Transnet (as captured via Project ID#58429), leading to an accumulated loan total of ZAR 640 million in 2010.

Additional details

1. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

Number of official sources

4

Number of total sources

4

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Details

Cofinanced

No

Direct receiving agencies [Type]

Transnet [State-owned Company]

Loan Details

Bilateral loan

Working capital