Overview

CDB issues a $15 million USD line of credit to JSC BasisBank in 2017 to support SMEs (Linked to Record ID#66717)

Commitments (Constant USD, 2023)$15,961,896

Commitment Year•2017Country of Activity•GeorgiaDirect Recipient Country of Incorporation•GeorgiaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 28, 2017

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

JSC BasisBank

Implementing agencies

Private Sector

JSC BasisBank

Loan description

CDB issues a $15 million USD line of credit to JSC BasisBank in 2017 to support SMEs

Interest type•Unknown

Narrative

Full Description

Project narrative

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 Record 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.

Staff comments

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.