Project ID: 71174

China Development Bank provides $25 million loan to Central Bank of Sri Lanka for development

Commitment amount

$ 37550251.2068698

Adjusted commitment amount

$ 37550251.21

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Sri Lanka

Sector

Other multisector (Code: 430)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-01-01

Actual start

2009-07-25

Description

On July 25, 2009, China Development Bank finalized a $25 million loan agreement with the Central Bank of Sri Lanka (CBSL) for the purpose of enhancing liquidity in the market and promoting the development of agriculture and infrastructure in Sri Lanka. The loan aimed to "to promote financial and economic co-operation between the two institutions." This loan agreement carried the following terms: 3 year maturity and an interest rate of 6-month LIBOR plus a 4% margin. Given that the 6-month LIBOR rate in July 2009 was 0.299 %, the total interest amounted to 4.299%.

Number of official sources

1

Number of total sources

1

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Details

Cofinanced

No

Direct receiving agencies [Type]

Central Bank of Sri Lanka [Government Agency]

Implementing agencies [Type]

Central Bank of Sri Lanka [Government Agency]

Loan Details

Maturity

3 years

Interest rate

4.299%

Grant element (OECD Grant-Equiv)

3.5442%

Bilateral loan