Overview

ICBC contributes to EUR 220 million syndicated loan to Afreximbank for unspecified purposes in May 2013

Commitments (Constant USD, 2023)$27,456,919

Commitment Year•2013Country 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: May 1, 2013

Last repayment (originally scheduled): May 1, 2015

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 Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Cofinancing agencies

Private Sector

BGFIBank Group S.A.
Commerzbank Aktiengesellschaft (Commerzbank AG)
FirstRand Bank (FirstRand Limited)
HSBC Bank PLC
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
Standard Bank of South Africa Limited (Standard Bank)

State-owned Banks

Arab Banking Corporation (Bank ABC)
Korea Development Bank (KDB)
National Bank of Abu Dhabi PJSC (NBA)

Receiving agencies

Intergovernmental Organizations

African Export-Import Bank (Afreximbank)

Implementing agencies

Intergovernmental Organizations

African Export-Import Bank (Afreximbank)

Loan description

ICBC contributes to EUR 220 million syndicated loan to Afreximbank for on-lending purposes in May 2013

Interest type•UnknownMaturity•2 years

Narrative

Full Description

Project narrative

In May 2013, the African Export-Import Bank (Afreximbank) signed an EUR 220 million syndicated term loan facility agreement with a group of 11 banks for unspecified purposes. The loan carried a 2-year maturity and an unknown interest rate. Participants in the loan syndicate included Arab Banking Corp, BGFI Bank, Commerzbank, First Rand Bank, HSBC, Industrial and Commercial Bank of China (ICBC), Korea Development Bank, Bank of Tokyo-Mitsubishi UFJ, National Bank of Abu Dhabi, the Standard Bank of South Africa Limited, and Standard Chartered Bank.

Staff comments

1. The exact size of ICBC contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions ($20 million) across the 11 participants in the loan syndicate. 2. This loan is not included in the Chinese Loans to Africa Database developed by SAIS-CARI and maintained by the Global Development Policy Center at Boston University.