CDB provides $130 million loan to ACLEDA Bank PLC for on-lending to Cambodian SMEs (Linked to Project ID#62370)
Commitment amount
$ 145188810.31036186
Adjusted commitment amount
$ 145188810.31
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Cambodia
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On July 11, 2020, the Guangxi Branch of China Development and ACLEDA Bank PLC signed a $130 million loan agreement. The loan carries a 3-year maturity and an interest rate that ranges between 5% and 6%. The first loan disbursement took place on July 27, 2020. The borrower was expected to use the loan proceeds to on-lend to small- and medium-sized enterprises (SMEs) in Cambodia.
Additional details
1. Acleda Bank Plc. is a private bank. ACLEDA is an acronym for the Association of Cambodian Local Economic Development Agencies. 2. The exact interest rate for this loan is unclear. For the time being, AidData has estimated the interest rate that applies to this loan by taking the mid-point between 5% and 6%.
Number of official sources
3
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Acleda Bank [Private Sector]
Implementing agencies [Type]
Acleda Bank [Private Sector]
Loan Details
Maturity
3 years
Interest rate
5.5%
Grant element (OECD Grant-Equiv)
5.6438%