CDB provides $30 million loan to Banco Comercial e de Investimentos (BCI) for SME on-lending purposes
Commitment amount
$ 33706938.367864184
Adjusted commitment amount
$ 33706938.37
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Mozambique
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
0
Number of total sources
3
Details
Cofinanced
No
Direct receiving agencies [Type]
Banco Comercial e de Investimentos (BCI) [Private Sector]
Implementing agencies [Type]
Banco Comercial e de Investimentos (BCI) [Private Sector]