Overview

China Eximbank provides $100 million loan to Afreximbank for short-term trade finance activities and medium-term project finance on-lending activities in May 2009

Commitments (Constant USD, 2023)$138,731,777

Commitment Year•2009Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 13, 2009

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

Intergovernmental Organizations

African Export-Import Bank (Afreximbank)

Implementing agencies

Intergovernmental Organizations

African Export-Import Bank (Afreximbank)

Loan description

China Eximbank provides $100 million loan to Afreximbank for short-term trade finance activities and medium-term project finance on-lending activities in May 2009

Interest type•Unknown

Narrative

Full Description

Project narrative

On May 13, 2009, the Export-Import Bank of China and the African Export-Import Bank (Afreximbank) signed a $100 million trade and project financing facility agreement. Under this facility, $20 million was used by Afreximbank to fund short-term trade finance activities and $80 million was channeled into medium-term project finance on-lending to its clients in support of the acquisition of a variety of Chinese goods and services from a broad range of sectors including: industry and agro-industry, telecommunications, energy and environmental protection, transportation, water supply, and sanitation.