Overview

CDB provides $30 million loan to Banco Comercial e de Investimentos (BCI) for SME on-lending purposes

Commitments (Constant USD, 2023)$31,139,625

Commitment Year•2019Country of Activity•MozambiqueDirect Recipient Country of Incorporation•MozambiqueSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 24, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Private Sector

Banco Comercial e de Investimentos (BCI)

Implementing agencies

Private Sector

Banco Comercial e de Investimentos (BCI)

Loan description

CDB provides $30 million loan to Banco Comercial e de Investimentos (BCI) for SME on-lending purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 24, 2019, China Development Bank and Banco Comercial e de Investimentos (BCI) signed a $30 million facility agreement. The borrower was expected to use the loan proceeds to on-lend to small- and medium-sized enterprises.

Staff comments

1. Incorporated in 1996, Banco Comercial e de Investimentos (“BCI”) is the largest bank in Mozambique. The bank provides a wide range of corporate, retail and commercial banking services to >1.5 million clients through a network of over 193 branches and outlets. The main shareholders are Portuguese banks Caixa Geral de Depositos (CGD) and Banco Portugues de Investimento (BPI). 2. One source (CGN) indicates that BCI also contracted a CDB loan in 2012. This issue warrants further investigation.