Harbin Bank contributes to RMB 2 billion syndicated loan to Credit Bank of Moscow in 2019 to finance trade between Russia and China (Linked to Project ID#92511)

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 According to the 2020 Annual Report of Harbin Bank, this loan was fully withdrawn (disbursed) by the end of calendar year 2020.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 Project ID#92511. Harbin Bank's contribution to the syndicated loan is captured in Project ID#92512.

Additional details

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).

Number of official sources

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Number of total sources

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