Project ID: 91103

China Development Bank provides $50 million loan to Banco Nacional de Costa Rica for unspecified purposes

Commitment amount

$ 55841850.11936994

Adjusted commitment amount

$ 55841850.12

Constant 2021 USD

Summary

Funding agency [Type]

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

Recipient

Costa Rica

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Other public sector debt

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

2020-07-01

Description

In July 2020, China Development Bank (CDB) and Banco Nacional de Costa Rica (BNCR) signed a $50 million loan agreement. The specific purposes of the loan are unknown. The borrowing terms of the loan are also unknown.

Additional details

1. Information is available on page 33 of the Ministry of Commerce's Costa Rica investment guide for 2021. 2. Banco Nacional de Costa Rica or BNCR is a state-owned bank. It is the largest commercial bank in Costa Rica and the second largest in Central America by assets. It has a 49% stake in Banco de Costa Rica International Limited (BICSA), incorporated with the Republic of Panama entity, and 100% of the shares of BN-Securities (Stock Exchange Market), BN-Vital (Operator owner pension fund), BN-SAFI (Mutual Funds) and BN insurance broker. in January 2013, the Fitch Ratings classified Banco Nacional de Costa Rica as an 'AA + (cri)' class bank.

Number of official sources

1

Number of total sources

1

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Banco Nacional de Costa Rica (BNCR) [State-owned Bank]

Loan Details

Bilateral loan

Inter-bank loan