Overview

CDB provides $70 million loan to Canadia Bank for unspecified purposes

Commitments (Constant USD, 2023)$73,233,887

Commitment Year•2015Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 28, 2015

Start (actual): Nov 30, 2015

First repayment (originally scheduled): Apr 27, 2018

Last repayment (originally scheduled): Oct 26, 2020

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

China Development Bank (CDB)

Receiving agencies

Private Sector

Canadia Bank PLC

Loan description

CDB provides $70 million loan to Canadia Bank for unspecified purposes

Grace period•2.5 yearsGrant element•15.9706%Interest rate (t₀)•4.53365%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•5 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.