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CDB provides $500 million loan to BNDES for on-lending purposes in August 2023
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Brazilian Development Bank (BNDES) |
| Country | Brazil |
| Start Date | Aug 22, 2023 |
| End Date | Oct 11, 2031 |
| Duration | 2,972 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 102633 |
Grant Description
CDB provides $500 million loan to BNDES for on-lending purposes in August 2023 On August 22, 2023, China Development Bank (CDB) and Brazil's National Bank for Economic and Social Development (BNDES) signed a $500 million loan agreement.
The loan was fully disbursed in 2023.
The borrower was expected to use the loan proceeds to on-lend for energy, green economy, high technology, infrastructure, agriculture and epidemic prevention projects and to promote bilateral trade between Brazil and China.
At the time that the loan agreement was signed, the Director of Capital Markets and Sustainable Finance at BNDES, Natália Dias, stated that ‘this US$500 million operation is just the first stage of a broader agreement, which provides for a second operation of up to US$800 million'. The second $800 million loan agreement between CDB and BNDES was signed on June 7, 2024 (see Record ID #107305).
Staff Comments
- The National Bank for Economic and Social Development is a development bank structured as a federal public company associated with the Ministry of the Economy of Brazil.
- The second $800 million loan agreement between CDB and BNDES was signed on June 7, 2024 (see Record ID #107305).
- The loan's maturity and grace period are drawn from the World Bank's Debtor Reporting System (DRS). See https://www.dropbox.com/scl/fi/3gmk0ktgl7wsmu9zz1sjf/Borrowing-terms-of-official-sector-loans-from-China-to-Brazil-DRS-January-2024-extraction.xlsx?rlkey=92sq9hpzb7cct4ezn59tcd89u&dl=04. Machado Meyer Advogados was the legal adviser to CDB.
Sources & References
- BNDES capta US$ 500 mi com CDB para investimentos em energia, economia verde e alta tecnologia
- BNDES capta US$ 500 mi com CDB para investimentos em energia, economia verde e alta tecnologia
- 中国国家开发银行实现与巴西开发银行5亿美元综合授信项目全额发放
- BNDES capta US$ 1,3 bilhão na China para investimentos no Brasil
- BNDES e Banco de Desenvolvimento Chinês assinam acordo de US$ 1,3 bilhão para infraestrutura e economia verde no Brasil
- BNDES raises 500 million dollars from the China Development Bank for investments in energy, green economy and high-tech
- 中国日报网：中国国家开发银行实现与巴西开发银行 5亿美元综合授信项目全额发放
- BNDES
- CDB raise $500 million for investments in Brazil
- Borrowing terms of official sector loans from China to Brazil DRS January 2024 extraction
- BNDES Annual Report 2023
- Chinese Loans to Latin America and the Caribbean Database: Brazil
- BNDES e Banco de Desenvolvimento Chinês assinam acordo de US$ 1,3 bi
- BNDES gets US$1.3 billion loan from China’s development bank
- 国家开发银行：融通资金 服务共赢 助力共建“一带一路”高质量发展 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Brazilian Development Bank (BNDES)
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