CCB contributes to $90.4 million syndicated loan to International Bank of Azerbaijan for unspecified purposes
Commitment amount
$ 50785120.4742487
Adjusted commitment amount
$ 50785120.47
Constant 2021 USD
Summary
Funding agency [Type]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
Azerbaijan
Sector
Unallocated/unspecified (Code: 998)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
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 project ID#92220 and CCB's via project ID#92221.
Additional details
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).
Number of official sources
1
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Direct receiving agencies [Type]
International Bank of Azerbaijan [State-owned Bank]
Insurance provider [Type]
China Export & Credit Insurance Corporation (Sinosure) [State-owned Company]