Overview

ICBC provides $34 million loan to Canadia Bank for unspecified purposes

Commitments (Constant USD, 2023)$34,868,808

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: Nov 27, 2014

Last repayment (originally scheduled): Dec 31, 2016

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

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Canadia Bank PLC

Loan description

ICBC provides $34 million loan to Canadia Bank for unspecified purposes

Grant element•8.2924%Interest rate (t₀)•3.5%Interest type•Fixed Interest RateMaturity•3 years

Narrative

Full Description

Project narrative

On November 27, 2014, Canadia Bank entered into a $34 million facility agreement with Industrial and Commercial Bank of China Limited, Phnom Penh Branch. The loan carried a 3-year maturity and annual interest rate of 3.50%. Based on the agreement, Canadia Bank was required to place a one-year fixed deposit with Industrial and Commercial Bank of China Limited, Phnom Penh Branch of RMB 211 million (approximately equivalent to $34 million).

Staff comments

1. The intent field has been coded as Mixed, as the purpose for the loan is unknown, and AidData cannot assume commercial intent.