Industrial and Commercial Bank of China Limited - Yangon Branch provides MMK 3 billion loan to Acleda MFI Myanmar Co., Ltd. for unspecified purposes
Commitment amount
$ 2541252.1349941776
Adjusted commitment amount
$ 2541252.13
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Myanmar
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On December 11, 2017, Acleda MFI Myanmar Co., Ltd., one of Acleda Bank Plc.'s subsidiaries, entered into a MMK 3,000,000,000 loan agreement for a line of credit with Industrial and Commercial Bank of China Limited - Yangon Branch. The full MMK 3 billion was drawn down on December 20, 2017. The maturity date is December 20, 2020, which gives a 3 year maturity. The loan was to be repaid in six semi annual installments starting from June 20, 2018 (giving a grace period of 0.5 years), and its purpose was not specified.
Additional details
AidData has inferred the commitment year to be 2017, as this loan is not in the 2016 Annual Report produced by Acleda Bank.
Number of official sources
3
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Acleda Bank [Private Sector]
Loan Details
Maturity
3 years
Grace period
1 years