Bank of Weifang contributes to RMB 10 billion syndicated loan to Vnesheconombank for unspecified purposes (Linked to Project ID#92312, #92372, #92373, #92374, #92375, #92376, #92379)

In September 2016, Russia's State Corporation Bank for Development & Foreign Economic Affairs — also known as Vnesheconombank (VEB) — signed an RMB 10 billion syndicated loan agreement with a consortium of Chinese banks (including Harbin Bank, Baoshang Bank, Bank of Zhengzhou, Harbin Bank Financial Leasing, Bank of Fuxin, Bank of Ganzhou, Bank of Jiujiang, Bank of Weifang, New China Trust, Bank of Chaoyang). The loan carries a 3-year maturity (with a 3-year extension option) and an unknown interest rate. By the end of the 2018, two loan disbursements had taken place. As of August 2018, the loan had disbursed RMB 506 million — mainly for thermal power and hydropower projects. As of April 2019, the loan had disbursed RMB 556 million — mainly for thermal power and hydropower projects.

Additional details

1. All but two (Baoshang Bank and New China Trust) of the ten banks that participated in the lending syndicated are state-owned. The size of each bank’s contribution to the lending syndicate is unknown. For the time being, AidData assumes equal (RMB 1 billion) contributions by each of the (state-owned) banks. 2. The contributions of the eight state-owned banks are captured in the following Project ID#s: Harbin Bank via Project ID#92312, Bank of Zhengzhou via Project ID#92372, Harbin Bank Financial Leasing via Project ID#92373, Bank of Fuxin via Project ID#92374, Bank of Ganzhou via Project ID#92375, Bank of Jiujiang via Project ID#92376, Bank of Weifang via Project ID#92378, Bank of Chaoyang via Project ID#92379.

Number of official sources

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