Overview

China Eximbank provides $50 million bilateral loan to Afreximbank for on-lending purposes in September 2016

Commitments (Constant USD, 2023)$54,536,079

Commitment Year•2016Country of Activity•Africa, regionalDirect Recipient Country of Incorporation•Africa, regionalSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 12, 2016

Last repayment (originally scheduled): Sep 11, 2021

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 $50 million bilateral loan to Afreximbank for on-lending purposes in September 2016

Grant element•14.9018%Interest rate (t₀)•2.59714%Interest type•Variable Interest RateMaturity•5 years

Narrative

Full Description

Project narrative

On September 12, 2016, the African Export-Import Bank (Afreximbank) signed a $50 million bilateral term loan facility agreement with the Shanghai Branch of Export-Import Bank of China (Chian Eximbank). The loan carried a 5-year maturity and an interest rate of LIBOR plus a 1.35% margin.

Staff comments

1. AidData has estimated the all-in interest rate by adding 1.35% to average 6-month LIBOR in September 2016 (1.24714%).