Project ID: 92326

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

Commitment amount

$ 22560731.0437967

Adjusted commitment amount

$ 22560731.04

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Africa, regional

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Unallocable

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2013-05-01

Description

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 general corporate 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.

Additional details

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.

Number of official sources

1

Number of total sources

3

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

BGFIBank Group S.A. [Private Sector]

MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]

National Bank of Abu Dhabi (NBA) [State-owned Bank]

Standard Bank of South Africa Limited (Standard Bank) [Private Sector]

HSBC Bank PLC [Private Sector]

Korea Development Bank (KDB) [State-owned Bank]

Arab Banking Corporation (Bank ABC) [State-owned Bank]

FirstRand Bank (FirstRand Limited) [Private Sector]

Commerzbank Aktiengesellschaft (Commerzbank AG) [Private Sector]

Direct receiving agencies [Type]

African Export-Import Bank (Afreximbank) [Intergovernmental Organization]

Implementing agencies [Type]

African Export-Import Bank (Afreximbank) [Intergovernmental Organization]

Loan Details

Maturity

2 years

Syndicated loan