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Overview

CDB provides $500 million term loan to Banco do Brasil S.A. for unspecified social projects

Commitments (Constant USD, 2023)$472,459,566
Commitment Year•2022Country of Activity•BrazilDirect Recipient Country of Incorporation•BrazilOverseas Jurisdiction•Hong Kong (China)Sector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 12, 2022

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 Policy Banks

  • China Development Bank (CDB)

Receiving agencies

State-owned Banks

  • Banco do Brasil S.A.

Loan description

CDB provides $500 million term loan to Banco do Brasil S.A. for unspecified social projects

Interest type•Unknown

Narrative

Full Description

Project narrative

On January 12, 2022, the Hong Kong Branch of China Development Bank and the Grand Cayman Branch of Banco do Brasil S.A. — a state-owned Brazilian financial services company headquartered in Brasília, Brazil — signed a $500 million term loan facility agreement for unspecified social projects.

Staff comments

1. Banco do Brasil S.A. (English: Bank of Brazil) is a Brazilian financial services company headquartered in Brasília, Brazil. The oldest bank in Brazil, and one of the oldest banks in continuous operation in the world, it was founded by John VI, King of Portugal, in 1808. It is the second largest banking institution in Brazil, as well as the second largest in Latin America, and the seventy-seventh largest bank in the world. Banco do Brasil is controlled by the Brazilian government (59% ownership stake), although, is listed at the B3 in São Paulo. 2. Campos Mello Advogados and Shearman & Sterling - Brazil (São Paulo) and Singapore served as legal advisers to Banco do Brasil on this transaction. CDB was advised by Cescon, Barrieu, Flesch & Barreto Advogados and Clifford Chance.