China Eximbank provides EUR 70 million credit facility to BOAD for on-lending activities
Commitment amount
$ 178433220.6823752
Adjusted commitment amount
$ 178433220.68
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Africa, regional
Sector
Trade policies and regulations (Code: 330)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
No
Category
Project lifecycle
Description
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.
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 (2.58% interest rate, 20-year maturity, and a 10-year grace period) that the borrower (BOAD) has publicly disclosed.
Number of official sources
9
Number of total sources
11
Details
Cofinanced
No
Direct receiving agencies [Type]
West African Development Bank (WADB/BOAD) [Intergovernmental Organization]
Loan Details
Maturity
20 years
Interest rate
2.58%
Grace period
10 years
Grant element (OECD Grant-Equiv)
55.2157%