Overview

ICBC provides RUB 2 billion revolving credit facility to Segezha Group for general corporate purposes

Commitments (Constant USD, 2023)$31,856,753

Commitment Year•2019Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Feb 1, 2019

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 Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

Segezha Group

Loan description

ICBC provides RUB 2 billion revolving credit facility to Segezha Group for general corporate purposes

Interest type•Unknown

Narrative

Full Description

Project narrative

In February 2019, ICBC signed an agreement with Segezha Group, a Russian timber company, for a RUB 2 billion revolving credit facility for general corporate purposes. Lending terms are unknown. The proceeds of the facility will go towards Segezha Group's corporate activities and serves as Segezha Group's first time borrowing from a Chinese bank, as the company seeks to increase its exports to China.