Overview

CDB provides RMB 200 million loan to Credit Bank of Moscow in 2020 to finance trade between Russia and China

Commitments (Constant USD, 2023)$29,905,328

Commitment Year•2020Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 8, 2020

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

Private Sector

Credit Bank of Moscow

Loan description

CDB provides RMB 200 million loan to Credit Bank of Moscow in 2020 to finance trade between Russia and China

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 8, 2020, China Development Bank (CDB) and Credit Bank of Moscow — the third largest privately-owned commercial bank in Russia — signed an RMB 200 million loan agreement to promote trade between China and Russia. The borrowing terms of the loan are unknown. The money will reportedly be used to stimulate mutual trade between Russia and China, as well as to support international relations