CDB provides $70 million loan to Canadia Bank for unspecified purposes
Commitment amount
$ 78559289.87052667
Adjusted commitment amount
$ 78559289.87
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Cambodia
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On October 28, 2015, Canadia Bank and China Development Bank signed a $70 million loan (facility) agreement. The loan carried the following borrowing terms: a 5-year maturity, a 2.5-year grace period, and an interest rate of 6-month LIBOR plus a 4% margin. Interest was re-priced and payable every six months. As of November 2015, Canadia Bank had had fully utilized the $70 million loan.
Additional details
1. AidData has estimated the all-in interest rate by adding 4% to 6-month LIBOR in October 2015 (0.528%). 2. The intent has been coded as 'mixed', as it is unknown whether the loan was provided for development purposes. 3. Canadia Bank is a private bank. It is a wholly owned subsidiary of Overseas Cambodian Investment Corporation Ltd. (OCIC), a limited liability company organized under the laws of Cambodia.
Number of official sources
3
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Canadia Bank [Private Sector]
Loan Details
Maturity
5 years
Interest rate
4.528%
Grace period
3 years
Grant element (OECD Grant-Equiv)
15.9879%