Overview

China Development Bank provides EUR 60 million credit facility to BOAD for on-lending activities

Commitments (Constant USD, 2023)$94,793,014

Commitment Year•2011Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Aug 18, 2011

First repayment (originally scheduled): Aug 17, 2013

Last repayment (originally scheduled): Aug 16, 2018

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% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Intergovernmental Organizations

West African Development Bank (WADB/BOAD)

Loan description

China Development Bank provides EUR 60 million credit facility to BOAD for on-lending activities

Grace period•2 yearsGrant element•16.6511%Interest rate (t₀)•5%Interest type•Fixed Interest RateMaturity•7 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.