CDB provides RMB 6 billion loan to Sberbank for trade financing purposes
Commitment amount
$ 1071323648.4434443
Adjusted commitment amount
$ 1071323648.44
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Russia
Sector
Trade policies and regulations (Code: 330)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
On May 8, 2015, China Development Bank and Sberbank -- a Russian majority state-owned banking and financial services company headquartered in Moscow — signed an RMB 6 billion facility agreement for trade financing purposes. The timing and magnitude of drawdowns under this facility agreement are unknown.
Additional details
1. According to the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in 2020, this loan was designated for the Eurocement Modernization Project. While a portion of the funding may have financed that project, AidData has not identified evidence that the entire amount of the loan was earmarked for that purpose. This issue warrants further investigation.
Number of official sources
4
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Sberbank [State-owned Bank]