China Development Bank provides $100 million loan to United Bank of Africa for on-lending to small and medium enterprises in 19 African countries
Commitment amount
$ 108984974.78786768
Adjusted commitment amount
$ 108984974.79
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Africa, regional
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On February 27, 2018, the China Development Bank signed a seven-year, $100 million loan agreement with United Bank for Africa (UBA) for on-lending purposes to finance the development of small and medium enterprises (SMEs) across the 20 African countries where UBA currently operates. UBA has a large footprint across the globe operating in 20 African countries: Republique du Benin, Burkina Faso, Cameroun, Congo Brazzaville, Congo DRC, Cote d'lvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mali, Mozambique, Nigeria, Senegal, Sierra Leone, Tanzania, Tchad, Uganda and Zambia.
Additional details
1. United Bank for Africa Plc (UBA) is a Nigerian pan-African financial services group.
Number of official sources
0
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
United Bank for Africa Plc (UBA) [State-owned Bank]
Loan Details
Maturity
7 years