CDB issues a $15 million USD line of credit to JSC BasisBank in 2017 to support SMEs (Linked to Project ID#66717)
Commitment amount
$ 17285072.355314605
Adjusted commitment amount
$ 17285072.36
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Georgia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 28, 2017, China Development Bank (CDB) and Georgia's JSC BasisBank signed an agreement for the provision of a $15 million USD line of credit for the financing of small and medium-sized enterprises (SMEs) in Georgia. In 2016, the CDB also issued a $5 million USD loan to JSC Basis Bank (captured by linked project ID#67717) to JSC Basis Bank. On the basis of this good cooperation, CDB provided the $15 million USD line of credit to further expand the financial cooperation between the banks.
Additional details
Private Chinese company Xinjiang Hualing Industry & Trade (Group) Co., Ltd (the "Hualing Group") acquired a 90% equity stake in BasisBank in 2012; as of the end of 2014, it held a 92.78% interest in the bank.
Number of official sources
1
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
JSC BasisBank [Private Sector]
Implementing agencies [Type]
JSC BasisBank [Private Sector]