Overview

CDB provides $8 million loan to Rural Development Bank for paddy and rice improvement activities

Commitments (Constant USD, 2023)$9,091,977

Commitment Year•2011Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 31, 2011

Start (actual): Mar 1, 2012

First repayment: Feb 28, 2014

Last repayment: Aug 28, 2021

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

The project was to provide an $8 million loan to Cambodia's Rural Development Bank (RDB) for paddy and rice improvement activities. More detailed locational information can be found at: https://www.openstreetmap.org/node/6187631385

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

State-owned Banks

Agricultural and Rural Development Bank

Loan desecription

CDB provides $8 million loan to Rural Development Bank for paddy and rice improvement activities

Grace period•2.5 yearsGrant element•20.1881%Interest rate (t₀)•5.23578%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•10 years

Narrative

Full Description

Project narrative

On August 31, 2011, China Development Bank (CDB) signed an $8 million loan agreement with Cambodia's Rural Development Bank (RDB) for paddy and rice improvement activities. The loan carried a 10-year maturity and an interest rate of 6-month LIBOR plus a 4.75% margin. The loan fully disbursed -- in two installments -- in March 2012. Principal payments were originally scheduled to commence 24 months after utilization on a semi-annual basis. The loan's principal amount outstanding was $8 million as of December 31, 2012, $6 million as of December 31, 2013, $5.4 million as of December 31, 2014, $4.8 million as of December 31, 2015, $4.2 million as of December 31, 2016, and $0 as of December 31, 2017.

Staff comments

1. RDB, which is also known as Agricultural and Rural Development Bank, is an autonomous public enterprise established by the Royal Government of Cambodia. 2. This CDB loan is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020. 3. AidData has estimated the all-in interest rate by adding 4.75% to average 6-month LIBOR in August 2011 (0.45919%).