Overview

CDB provides $20 million loan Canadia Bank for agriculture (Linked to Record ID#62348)

Commitments (Constant USD, 2023)$25,722,769

Commitment Year•2010Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 13, 2010

First repayment (originally scheduled): Jan 1, 2010

Last repayment (originally scheduled): Dec 30, 2017

Geospatial footprint

Map overview

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The project was to provide a $20 million loan to Canadia Bank for agricultural purposes. More detailed locational information can be found at: https://www.openstreetmap.org/node/4769585533

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

Private Sector

Canadia Bank PLC

Loan desecription

CDB provides $20 million loan Canadia Bank for agriculture

Grant element•16.2081%Interest rate (t₀)•4.45631%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•8 years

Narrative

Full Description

Project narrative

On December 13, 2010, CDB and Canadia Bank signed two loan facility agreements. The first one amounted to US$20 million and the second facility agreement amounted to 66 million RMB (see #62348). Dieter Billmeier, Canadia Bank’s vice president said they will use the loans to support endeavors in agriculture and other related areas. The US$20 million CDB loan facility agreement with Canadia Bank has an 8-year maturity and bears an annual interest rate at six-month LIBOR plus a credit spread of 4.0%. The LIBOR rate is not identified in reports, so the average 6 Month LIBOR rate from December 2010 (when the financing agreement was signed) is used in the interest rate calculation. The total interest rate is 0.458% + 4.00% = 4.458%. There's no grace period ("CanadiaBank_AnnualReport_2010_ENG.pdf" pdf p.63). As of December 31, 2010, Canadia Bank had drawn down $10 million USD from the $20 million USD facility. As of December 31, 2010, Canadia Bank had drawn down $17 million USD total from the $20 million USD facility and $470,000 from the RMB 66 million facility.