Project ID: 66491

China Eximbank provides EUR 50 million loan to BDB for on-lending purposes and to support cross-border economic and trade transactions

Commitment amount

$ 64974782.12888825

Adjusted commitment amount

$ 64974782.13

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Bulgaria

Sector

Business and other services (Code: 250)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-09-28

Actual start

2017-09-28

Description

On September 28, 2017, the Export-Import Bank of China and the state-owned Bulgarian Development Bank (BDB) signed an EUR 50 million interbank loan agreement. The unsecured loan had a 5 year maturity, no grace period, and an annual interest rate of 6-month EURIBOR plus an unspecified margin. The borrower was authorized to use the loan proceeds to engage in on-lending activities and support the development of Bulgarian SMEs, cross-border economic, and trade transactions between China and Bulgaria. As of December 31, 2018, the loan had been fully utilized by the borrower and its (principal) amount outstanding was EUR 50 million. As of December 31, 2020, the loan’s (principal) amount outstanding was still EUR 50 million.

Additional details

1.This China Eximbank loan is not included in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020.

Number of official sources

6

Number of total sources

11

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Bulgarian Development Bank (BDB) [State-owned Bank]

Implementing agencies [Type]

Bulgarian Development Bank (BDB) [State-owned Bank]

Loan Details

Maturity

5 years

Grace period

0 years

Bilateral loan

Inter-bank loan