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Overview

CDB provides loan to Corporación Andina de Fomento (CAF) for unspecified purposes

Commitments (Constant USD, 2023)$249,234,680
Commitment Year•2007Country of Activity•America, regionalDirect Recipient Country of Incorporation•America, regionalSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2007
Last repayment (originally scheduled)
Dec 29, 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 Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Intergovernmental Organizations

  • Andean Development Corporation (CAF) Development Bank of Latin America

Loan description

CDB provides loan to Corporación Andina de Fomento (CAF) for unspecified purposes

Interest type•UnknownMaturity•12 years

Narrative

Full Description

Project narrative

On November 29, 2007, China Development Bank (CDB) and Corporación Andina de Fomento (CAF) signed a loan agreement for unspecified purposes. The face value of this loan is unknown. It carried a floating but unspecified interest rate and a final maturity date of November 19, 2019. Then, in December 2007, CDB made a $150 million loan disbursement to CAF. As of September 30, 2018, the outstanding principal balance of the loan was $22.5 million.

Staff comments

1. CAF is a multilateral development bank that has a mission of stimulating sustainable development and regional integration by financing projects in the public and private sectors in Latin America, and providing technical cooperation and other specialized services. Founded in 1970 and currently with 19 member countries from Latin America, the Caribbean, and Europe along with 13 private banks, CAF is one of the main sources of multilateral financing and an important generator of knowledge for the region. CAF is headquartered in Caracas, Venezuela. Additionally, it has Representative Offices in Madrid, Lima, Brasilia, Bogota, Buenos Aires, Quito, Panama, Montevideo, Asuncion, Mexico City, Port Spain and La Paz. 2. The face value of the loan is unknown. For the time being, AidData relies on the December 2007 disbursement amount ($150 million) as a proxy. This issue warrants further investigation.