CDB provides $30 million loan to Canadia Bank for unspecified purposes
Commitment amount
$ 33841096.565695055
Adjusted commitment amount
$ 33841096.57
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Cambodia
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On September 5, 2013, CDB signed a US$30 million loan facility agreement with Canadia Bank for unspecified purposes. On that day "The Fifth China-ASEAN Financial Cooperation and Development Leaders Forum" was held in Nanning. This loan facility has a 6-year maturity and annual interest rate of six-month LIBOR plus a credit spread of 4.00%. Based on the agreements, Canadia Bank is required to place one-year fixed deposits with China Development Bank of amounts equivalent to US$30 million. There's no grace period ("Annual Report 2014" pdf p.78). The LIBOR rate is not identified in reports, so the average 6 Month LIBOR rate from September 2013 (when the financing agreement was signed) is used in the interest rate calculation. Total interest rate for the loan facility is 0.380% + 4.00% = 4.380%.
Additional details
1. The loan was signed at the Fifth China-ASEAN Financial Cooperation and Development Leaders Forum but was for unknown purposes. The intent field has been coded as Mixed.
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Canadia Bank [Private Sector]
Loan Details
Maturity
6 years
Interest rate
4.38%
Grace period
0 years
Grant element (OECD Grant-Equiv)
13.0487%