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ICBC provides $70 million loan to Banco do Brasil S.A. for on-lending purposes in June 2020
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Banco do Brasil S.A. |
| Country | Brazil |
| Start Date | Jun 29, 2020 |
| End Date | May 19, 2033 |
| Duration | 4,707 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 107312 |
Grant Description
ICBC provides $70 million loan to Banco do Brasil S.A. for on-lending purposes in June 2020 On June 29, 2020, the Industrial and Commercial Bank of China (ICBC) and Banco do Brasil S.A. — a state-owned Brazilian financial services company headquartered in Brasília, Brazil — signed a $70 million loan agreement for on-lending purposes.
The loan’s amount outstanding was $70 million as of December 31, 2020 and $70 million as of December 31, 2021.
Staff Comments
1. Banco do Brasil S.A. (English: Bank of Brazil) is a Brazilian financial services company headquartered in Brasília, Brazil. The oldest bank in Brazil, and one of the oldest banks in continuous operation in the world, it was founded by John VI, King of Portugal, in 1808. It is the second largest banking institution in Brazil, as well as the second largest in Latin America, and the seventy-seventh largest bank in the world. Banco do Brasil is controlled by the Brazilian government (59% ownership stake), although, is listed at the B3 in São Paulo.
Sources & References
- Processo de Credenciamento Nº 001/2022
- Formulário de Referência 2022 Ano-base 2021
- Formulário de Referência 2021 Ano-base 2020
- Formulário de Referência 2020 Ano base 2019 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
Banco do Brasil S.A.
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