Overview

Industrial and Commercial Bank of China Limited - Phnom Penh Branch provides $18 million loan to Acleda Bank Plc. for unspecified purposes

Commitments (Constant USD, 2023)$18,831,571

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

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2015

Start (actual): Sep 1, 2015

End (actual): Sep 1, 2018

Last repayment (originally scheduled): Aug 31, 2018

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

ACLEDA Bank Plc.

Loan description

Industrial and Commercial Bank of China Limited - Phnom Penh Branch provides $18 million loan to Acleda Bank Plc. for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In 2015, Acleda Bank entered into a $18,000,000 loan agreement for a line of credit with Industrial and Commercial Bank of China Limited - Phnom Penh Branch. The full $18 million was drawn down (disbursed) on September 1, 2015. The maturity date is August 31, 2018, which effectively represents a 3 year maturity. The loan was repaid in full on its maturity date, and its purpose was not specified.

Staff comments

1. AidData has inferred the commitment year to be 2015, as this loan is not in the 2014 Annual Report produced by Acleda Bank.