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Overview

Huishang Bank contributes to RMB 2 billion syndicated loan to Credit Bank of Moscow in 2019 to finance trade between Russia and China (Linked to Record ID#92512)

Commitments (Constant USD, 2023)$151,157,777
Commitment Year•2019Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 26, 2019

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

  • Huishang Bank

Cofinancing agencies

State-owned Commercial Banks

  • Harbin Bank

Receiving agencies

Private Sector

  • Credit Bank of Moscow

Loan desecription

Harbin Bank and Huishang Bank contribution to RMB 2 billion syndicated loan to Credit Bank of Moscow in 2019 to finance trade between Russia and China

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 26, 2019, Credit Bank of Moscow — the third largest privately-owned commercial bank in Russia — signed a RMB 2 billion ($280 million) syndicated loan agreement with a group of large regional banks in China (including Harbin Bank and Huishang Bank). The proceeds of the loan were to be used by the borrower to finance trade between Russia and China. According to the 2020 Annual Report of Harbin Bank, this loan was fully withdrawn (disbursed) by the end of calendar year 2020. Huishang Bank was the lead bank and Harbin Bank was the agency bank. Huishang Bank's contribution to the syndicated loan is captured in Record ID#92511. Harbin Bank's contribution to the syndicated loan is captured in Record ID#92512.

Staff comments

1. The size of Huishang Bank and Harbin Bank's respective financial contributions to the RMB 2 billion syndicated loan are unknown. For the time being, AidData assumes that both members of the lending syndicate contributed equal amounts (RMB 1 billion).