Project ID: 89503

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

Commitment amount

$ 544924873.9393383

Adjusted commitment amount

$ 544924873.94

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Africa, regional

Sector

Other multisector (Code: 430)

Flow type

Loan

Level of public liability

Unallocable

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2018-09-01

Description

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.

Additional details

Number of official sources

4

Number of total sources

5

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Details

Cofinanced

No

Direct receiving agencies [Type]

African Export-Import Bank (Afreximbank) [Intergovernmental Organization]

Loan Details

Maturity

10 years

Bilateral loan