CDB provides $20 million term loan to Trade and Development Bank of Mongolia for on-lending purposes

On July 14, 2016, China Development and the Trade and Development Bank of Mongolia signed a $20 million term facility agreement. The proceeds of the loan were to be used by the borrower to on-lend to local Mongolian companies at low interest rates. The CDB loan carried a 3 year maturity and the interest of the facility was repayable semi-annually until final repayment due at the maturity of the facility in January 2020. The principal amounts outstanding under the China Development Bank Loan bear interest at a rate of LIBOR plus 4.5% per annum, payable semi-annually beginning on the date of first use of funds under the facility. The outstanding balance of the loan amounted to $19,927,092 (MNT 52,665,710 thousand) and $19,860,943 (MNT 48,205,091) on December 31, 2018 and December 31, 2017, respectively.

Additional details

1. The CDB loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.

Number of official sources

6

Number of total sources

6