Overview

Bank of China provides $20 million loan to Canadia Bank for unspecified purposes

Commitments (Constant USD, 2023)$20,511,064

Commitment Year•2014Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaOverseas Jurisdiction•CambodiaSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 29, 2014

Last repayment (originally scheduled): Jan 1, 2015

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 Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Canadia Bank PLC

Loan description

Bank of China provides $20 million loan to Canadia Bank for unspecified purposes

Grant element•2.9389%Interest rate (t₀)•3.5%Interest type•Fixed Interest RateMaturity•1 years

Narrative

Full Description

Project narrative

On September 29, 2014, Canada Bank entered into a $20 million facility agreement with Bank of China Limited, Phnom Penh Branch. The loan carried the following borrowing terms: an annual interest of 3.50% an a 1-year maturity. Based on the agreement, Canadia Bank was required to place a one‐year fixed deposit with Bank of China Limited, Phnom Penh Branch worth $10 million and RMB 61.60 million (approximately equivalent to $10 million).

Staff comments

1. The intent field has been coded as Mixed, as it is unknown whether the loan was provided for development purposes.