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Overview

CDB contributes to $90.4 million syndicated loan to International Bank of Azerbaijan for unspecified purposes

Commitments (Constant USD, 2023)$46,917,035
Commitment Year•2019Country of Activity•AzerbaijanDirect Recipient Country of Incorporation•AzerbaijanSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2019

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)

Cofinancing agencies

State-owned Commercial Banks

  • China Construction Bank Corporation (CCB)

Receiving agencies

State-owned Banks

  • ABB (formerly International Bank of Azerbaijan)

Insurance providers

State-owned companies

  • China Export & Credit Insurance Corporation (Sinosure)

Loan description

CDB and CCB contributions to USD 90.4 million syndicated loan to International Bank of Azerbaijan for unspecified purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2019, China Development Bank (CDB) Corporation (Inner Mongolia Branch) and China Construction Bank (CCB) signed a $90.4 million syndicated loan (facility) agreement with International Bank of Azerbaijan for unspecified purposes. The loan was backed a Sinosure credit insurance policy. CDB's contribution is captured via Record ID#92220 and CCB's via Record ID#92221

Staff comments

1. The exact year in which the loan was issued is unknown. For the time being, AidData has set the commitment year to 2019 since International Bank of Azerbaijan and Sinosure were having preliminary discussions in 2019. This issue warrants further investigation. 2. ABB (from Azerbaijani: Azərbaycan Beynəlxalq Bankı [ɑːzæɾbɑjˈdʒɑn bejnælˈxɑlk ˈbɑŋkɯ]; International Bank of Azerbaijan), the largest bank in Azerbaijan, is an open joint-stock company whose shares are owned by the Azerbaijan state. 3. The exact contributions from CDB and CCB are unknown at this time. AidData assumes equal contributions from both banks ($45.2 million).