Project ID: 66878

ICBC provides $1 billion loan to National Bank of Angola for unspecified purposes in December 2017

Commitment amount

$ 1152338157.0209737

Adjusted commitment amount

$ 1152338157.02

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Angola

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (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

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-12-09

Description

On December 9, 2017, the Industrial and Commercial Bank of China (ICBC) and the National Bank of Angola signed a $1 billion loan agreement for unspecified reasons. The loan had a maturity of 4 years and a 3.09% interest rate. Interest payments were to be made on a trimestral basis.

Additional details

1. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

Number of official sources

2

Number of total sources

2

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

National Bank of Angola [Government Agency]

Implementing agencies [Type]

National Bank of Angola [Government Agency]

Loan Details

Maturity

4 years

Interest rate

3.09%

Grant element (OECD Grant-Equiv)

9.9379%

Bilateral loan