Skip to content
AidData logo

Overview

China Development Bank provides RMB 500 million loan to Hungarian Development Bank for on-lending purposes

Commitments (Constant USD, 2023)$75,578,889
Commitment Year•2019Country of Activity•HungaryDirect Recipient Country of Incorporation•HungarySector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2019

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

CDB provided a loan for on-lending purposes to Hungarian Development Bank (MFB), which is headquartered in Budapest, Hungary. The HQ address is 1051 Budapest, Nádor u. 31. More detailed locational information can be found at: https://www.openstreetmap.org/node/8241428845

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

State-owned Banks

  • Hungarian Development Bank (MFB)

Loan desecription

China Development Bank provides RMB 500 million loan to Hungarian Development Bank for on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In April 2019, China Development Bank and the Hungarian Development Bank (Magyar Fejlesztési Bank or MFB) — a state-owned bank in Hungary — signed an RMB 500 million loan agreement for on-lending activities.

Staff comments

1. One source suggests that CDB issued an EUR 500 million line of credit rather than an RMB 500 million loan agreement in April 2019. However, for the time being, AidData relies on the Chinese Ministry of Foreign Affairs, which reports that the CDB and MFB signed an RMB 500 million loan agreement.