Overview

CDB provides RMB 66 million loan to Canadia Bank for agriculture (Linked to Record ID#62347)

Commitments (Constant USD, 2023)$12,540,110

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: Jan 1, 2010

Last repayment: Dec 30, 2017

Geospatial footprint

Map overview

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The project was to provide a 66 million RMB loan 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 RMB 66 million loan to Canadia Bank for agriculture

Grant element•16.203%Interest rate (t₀)•4.458%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 (see #62347) and the second facility agreement amounted to 66 million RMB (approximately US$10 million). Dieter Billmeier, Canadia Bank’s vice president said they will use the loans to more funds into agriculture and related areas. The RMB 66 million CDB loan facility agreement with Canadia Bank has an 8-year maturity and bears an annual interest rate of 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.