Overview

China Construction Bank contributes ZAR 275 million to a ZAR 775 million syndicated loan to Land and Agricultural Development Bank for general corporate purposes

Commitments (Constant USD, 2023)$22,534,126

Commitment Year•2015Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 1, 2015

End (actual): Sep 27, 2017

Last repayment (originally scheduled): Feb 28, 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

China Construction Bank Corporation (CCB)

Cofinancing agencies

Private Sector

Rand Merchant Bank (RMB)

Receiving agencies

State-owned Banks

Land and Agricultural Development Bank of South Africa (LADBSA(

Loan description

In 2015, China Construction Bank contributed to ZAR 775 million syndicated loan to Land and Agricultural Development Bank for general corporate purposes, South Africa

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

In Fiscal Year 2016, Rand Merchant Bank (RMB) and China Construction Bank (CCB) signed a ZAR 775 million syndicated loan agreement with Land and Agricultural Development Bank of South Africa (Land Bank) for general corporate purposes. CCB contributed ZAR 275 million to the syndicate. The loan carried a 3-year maturity. Its other borrowing terms are unknown. The borrower voluntarily prepaid the loan on September 29, 2017.

Staff comments

1. The loan commitment date is unknown. However, it is known that the loan was committed during the Government of South Africa's Fiscal Year 2016, which ran from March 1, 2015 to February 28, 2016. For the time being, AidData assumes a loan commitment date of March 1, 2015. This issue warrants further investigation.