ICBC contributes to $44 million club loan to State Oil Company of the Azerbaijan Republic (SOCAR)

$22M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	State Oil Company of the Azerbaijan Republic (SOCAR)
Country	Azerbaijan
Start Date	Dec 25, 2016
End Date	Feb 23, 2030
Duration	4,808 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`105652`

Grant Description

Industrial and Commercial Bank of China contributes to $44 million club loan to State Oil Company of the Azerbaijan Republic (SOCAR) On December 25, 2016, ICBC Turkey partnered with Goldman Sachs to issue a $44 million club loan to the State Oil Company of the Azerbaijan Republic (SOCAR) for unspecified purposes.

📋 Staff Comments

1. The exact monetary size of ICBC’s contribution to the club loan is unknown. For the time being, AidData assumes equal contributions ($22 million) across the two members of the club loan.

📚 Sources & References

ICBC Turkey Bank A.Ş. 5th Anniversary 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.