ICBC provides EUR 70 million to Bulgarian Development Bank for on-lending and working capital purposes in March 2020
Commitment amount
$ 95184971.79438059
Adjusted commitment amount
$ 95184971.79
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Bulgaria
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On March 13, 2020, Industrial and Commercial Bank of China (ICBC) — through its divisions in Austria and Poland — and Bulgarian Development Bank (BDB) signed an EUR 75 million interbank loan agreement. The loan carries an interest rate of 6-month EURIBOR plus an unspecified margin. The proceeds of the loan are intended for general lending activities of BDB, direct financing, as well as on-lending through Bulgarian financial institutions in support of investment projects and providing working capital. The loan is unsecured. As of December 31, 2020, the loan had achieved a 100% disbursement rate and its (principal) amount outstanding was EUR 75 million.
Number of official sources
0
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
Bulgarian Development Bank (BDB) [State-owned Bank]
Loan Details
Maturity
2 years