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Overview

[China Co-Financing Fund] IDB administers 20 million USD loan from CHC to KfW's eco.business fund

Commitments (Constant USD, 2023)$20,125,926
Commitment Year•2018Country of Activity•America, regionalDirect Recipient Country of Incorporation•GermanySector•General Environmental ProtectionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 3, 2018
Last repayment
Dec 1, 2024

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

Government Agencies

  • People's Bank of China (PBC)

Cofinancing agencies

Intergovernmental Organizations

  • IDB Invest (formerly Inter-American Investment Corporation or IIC)

Receiving agencies

State-owned companies

  • eco.business Fund

Implementing agencies

Intergovernmental Organizations

  • China Co-Financing Fund for Latin America and the Caribbean (CHC)
  • IDB Invest (formerly Inter-American Investment Corporation or IIC)

State-owned Banks

  • KfW Development Bank (KfW Entwicklungsbank GmbH)

Loan desecription

[China Co-Financing Fund] IDB administers 20 million USD loan from CHC to KfW's eco.business fund

Interest type•UnknownMaturity•6 years

Narrative

Full Description

Project narrative

On December 3, 2018, the private sector institution of the Inter-American Development Bank (IDB) Group, IDB Invest (formerly Inter-American Investment Corporation, or IIC) signed a loan agreement for a 60 million USD unsecured subordinated loan with the eco.business Fund, of which 20 million USD came from the China Co-Financing Fund for Latin America and the Caribbean (CHC). The other 40 million USD came from IDB Invest's own funds. Both loans had an up-to 6 year maturity period. The IDB approval date for this loan financing was August 1, 2017, and it refers to this project with code 11813-06. The eco.business Fund is managed by the German Development Bank (KfW) and provides financing for business practices that conserve nature and foster biodiversity, with the intention of seeking investments with both environmental and financial returns. The fund primarily provides loans for on-lending to borrowers who support sustainable operations in agriculture, fishery (including aquaculture), forestry and tourism sectors in Latin America and the Caribbean, as well as sub-Saharan Africa as of 2020. It is unknown what projects were ultimately funded by the loan. The China Co-Financing Fund was established on 14 January 2013 with a contribution of 2 billion USD by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526.