Overview

Industrial and Commercial Bank of China Limited - Phnom Penh Branch provides $21 million loan to Acleda Bank Plc. for unspecified purposes

Commitments (Constant USD, 2023)$22,905,153

Commitment Year•2016Country 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: Sep 16, 2016

Start (actual): Sep 19, 2016

End (actual): Sep 19, 2019

Last repayment (originally scheduled): Dec 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 $21 million loan to Acleda Bank Plc. for unspecified purposes

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In 2016, Acleda Bank entered into a $21,000,000 loan agreement for a line of credit with Industrial and Commercial Bank of China Limited - Phnom Penh Branch. The full $21 million USD was drawn down on September 19, 2016. The maturity date is September 19, 2019, which gives a 3 year maturity. The loan was to be repaid in full on its maturity date, and its purpose was not specified.

Staff comments

AidData has inferred the commitment year to be 2016, as this loan is not in the 2015 Annual Report produced by Acleda Bank.