China Development Bank provides EUR 60 million credit facility to BOAD for on-lending activities
Commitment amount
$ 102581911.40740892
Adjusted commitment amount
$ 102581911.41
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Africa, regional
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
On August 18, 2011, China Development Bank and Banque Ouest Africaine de Developement (BOAD, or the West African Development Bank) signed an EUR 60 million credit facility agreement. This credit facility carries the following borrowing terms: a 5% interest rate, a 7-year maturity, and a 2-year grace period. The proceeds were to be used by the borrower for on-lending purposes and for projects in the commercially-operated public sector and the private sector.
Additional details
1. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not identify the borrowing terms of this loan. AidData records the borrowing terms (5% interest rate, 7-year maturity, and a 2-year grace period) that the borrower (BOAD) has publicly disclosed.
Number of official sources
7
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
West African Development Bank (WADB/BOAD) [Intergovernmental Organization]
Loan Details
Maturity
7 years
Interest rate
5.0%
Grace period
2 years
Grant element (OECD Grant-Equiv)
16.6511%