CDB provides $150 million loan to Bank Muscat for on-lending purposes
Commitment amount
$ 167525550.35810986
Adjusted commitment amount
$ 167525550.36
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Oman
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On June 10, 2020, Bank Muscat — the leading financial services provider in the Sultanate of Oman — announced that it had signed a $150 million unsecured bilateral loan facility agreement with China Development Bank (CDB). The loan carries a 5-year maturity and an unknown interest rate. The borrower is expected to use the loan proceeds to engage in on-lending activities in Oman (i.e. to support Bank Muscat’s financing operations in the country).
Additional details
1. Bank Muscat is a financial services provider in the Sultanate of Oman providing corporate banking, retail banking, investment banking, treasury, private banking and asset management. The bank, with assets worth $31.9 billion in 2018, has the largest network in Oman exceeding 150 branches. Bank Muscat's major shareholder is the Oman sultanate (23.63%).
Number of official sources
4
Number of total sources
11
Details
Cofinanced
No
Direct receiving agencies [Type]
Bank Muscat [State-owned Bank]
Implementing agencies [Type]
Bank Muscat [State-owned Bank]
Loan Details
Maturity
5 years