Overview

China Development Bank provides $100 million loan to United Bank of Africa for on-lending to small and medium enterprises in 19 African countries

Commitments (Constant USD, 2023)$100,629,629

Commitment Year•2018Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•NigeriaSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 27, 2018

Last repayment (originally scheduled): Feb 25, 2025

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

United Bank for Africa Plc (UBA)

Loan description

China Development Bank provides $100 million loan to United Bank of Africa for on-lending to small and medium enterprises in 19 African countries

Interest type•UnknownMaturity•7 years

Narrative

Full Description

Project narrative

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.

Staff comments

1. United Bank for Africa Plc (UBA) is a Nigerian pan-African financial services group.