Bank of China signs $100 million credit facility with Gazprombank to finance Chinese exports
Commitment amount
$ 243606374.03785372
Adjusted commitment amount
$ 243606374.04
Constant 2021 USD
Summary
Funding agency [Type]
Bank of China (BOC) [State-owned Commercial Bank]
Recipient
Russia
Sector
Trade policies and regulations (Code: 330)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
In March 2003, Bank of China signed a $100 million credit facility agreement with Gazprombank to finance the purchase of Chinese goods. The facility has a maturity of 5 years and an interest rate of LIBOR plus a 3% margin.
Additional details
1. A Gazprombank source states that "the annual rate does not exceed LIBOR + 3%." Given that average 6 month LIBOR in March 2003 was 1.264%, the all-n interest rate has been estimated as 1.264% + 3% = 4.264%.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
Gazprombank [State-owned Bank]
Implementing agencies [Type]
Gazprombank [State-owned Bank]
Loan Details
Maturity
5 years
Interest rate
4.264%