Overview

Bank of China provides $350 million loan to Afreximbank for on-lending purposes

Commitments (Constant USD, 2023)$352,203,703

Commitment Year•2018Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Banking And Financial ServicesFlow 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 Commercial Banks

Bank of China (BOC)

Receiving agencies

Intergovernmental Organizations

African Export-Import Bank (Afreximbank)

Loan description

Bank of China provides USD 350 million loan to Afreximbank for on-lending purposes

Interest type•UnknownMaturity•10 years

Narrative

Full Description

Project narrative

In September 2018, Bank of China and the African Export-Import Bank (Afreximbank) signed a $350 million loan agreement. The borrowing terms of the loan are unknown. The proceeds of the loan are to be used by the borrower to support bank-to-bank loans, syndicated loans, and trade finance activities.