Overview

China Eximbank provides EUR 70 million credit facility to BOAD for on-lending activities

Commitments (Constant USD, 2023)$164,784,055

Commitment Year•2006Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 23, 2006

First repayment (originally scheduled): Nov 20, 2016

Last repayment (originally scheduled): Nov 18, 2026

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

Intergovernmental Organizations

West African Development Bank (WADB/BOAD)

Loan description

China Eximbank provides EUR 70 million credit facility to BOAD for on-lending activities

Grace period•10 yearsGrant element•55.2157%Interest rate (t₀)•2.58%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On November 23, 2006, China Eximbank and Banque Ouest Africaine de Developpement (BOAD, or the West African Development Bank) signed an EUR 70 million credit facility agreement. This credit facility carries the following terms: 2.58% interest rate, 20-year maturity, and a 10-year grace period. The proceeds were to be used by the borrower for on-lending purposes and to help West African Economic and Monetary Union (UEMOA) member countries acquire mechanical, electronic, and high-tech goods and services from Chinese suppliers.

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 (2.58% interest rate, 20-year maturity, and a 10-year grace period) that the borrower (BOAD) has publicly disclosed.