ICBC participates in $185 million syndicated loan to Vietnam International Commercial Joint Stock Bank for on-lending purposes
Commitment amount
$ 32649580.73148154
Adjusted commitment amount
$ 32649580.73
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Vietnam
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On November 15, 2017, the Industrial and Commercial Bank of China (ICBC) signed a $185 million syndicated loan agreement with Vietnam International Commercial Joint Stock Bank (VIB). The loan had a term (maturity of five years, but its interest rate is unknown. The syndicate was arranged by the International Finance Corporation (IFC), which contributed $100 million. Cathay United Bank, ICBC, and Kiatnakin Bank Public Company Ltd contributed a total of $85 million. VIB planned to use the loan proceeds to on-lend to micro, small, and medium enterprises and to increase the stock of affordable housing in Vietnam.
Additional details
1. AidData assumes equal contributions from all participants in a syndicate. USD 85 million divided by 3 lenders is USD 28.33 million per contributor.
Number of official sources
1
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
International Finance Corporation (IFC) [Intergovernmental Organization]
Kiatnakin Phatra Bank Thailand [State-owned Commercial Bank]
Cathay United Bank [Private Sector]
Direct receiving agencies [Type]
Vietnam International Commercial Joint Stock Bank [Private Sector]
Loan Details
Maturity
5 years