China Development Bank provides $200 million loan to Bank for Investment and Development of Vietnam (BIDV) for on-lending purposes
Commitment amount
$ 224455113.91579047
Adjusted commitment amount
$ 224455113.92
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Vietnam
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On December 22, 2011, China Development Bank (CDB) signed a letter of intent to issue a $200 million loan to Bank for Investment and Development of Vietnam (BIDV)— a state-owned bank— for on-lending purposes. The loan was to carry a 5-year maturity but no additional borrowing terms are available. Then, on November 5, 2015, CDB and BIDV signed the final $200 million loan agreement. The proceeds of the loan were to be used by BIDV to on-lend in support of economic development projects (power, telecommunication, agricultural, transport, construction) in Vietnam. This was the second credit package that CDB granted to BIDV following a $100 million loan in 2010 (see Project #85378).
Number of official sources
9
Number of total sources
12
Details
Cofinanced
No
Direct receiving agencies [Type]
Bank for Investment and Development of Vietnam (BIDV) [State-owned Bank]
Implementing agencies [Type]
Bank for Investment and Development of Vietnam (BIDV) [State-owned Bank]
Loan Details
Maturity
5 years