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
Project lifecycle
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
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