Overview

CDB provides $500 million loan to Afreximbank for on-lending purposes

Commitments (Constant USD, 2023)$503,148,147

Commitment Year•2018Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 1, 2018

Last repayment (originally scheduled): Aug 29, 2028

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

African Export-Import Bank (Afreximbank)

Loan description

CDB provides $500 million loan to Afreximbank for on-lending purposes

Interest type•UnknownMaturity•10 years

Narrative

Full Description

Project narrative

In September 2018, China Development Bank (CDB) and the African Export-Import Bank (Afreximbank) signed a $500 million loan agreement. The loan carried a maturity period of 10 years and an unknown interest rate. The proceeds of the loan were to be used by the borrower to on-lend in support of African energy, telecommunication, and transportation projects.