Active Mixed AidData Chinese Aid

ICBC contributes to $750 million syndicated loan to Africa Finance Corporation for on-lending purposes in April 2023

$107.14M USD

Funder	ICBC (London) PLC
Recipient Organization	Africa Finance Corporation (AFC)
Country	Africa, regional
Start Date	Apr 01, 2023
End Date	Mar 03, 2029
Duration	2,163 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108531`

Grant Description

ICBC contributes to $750 million syndicated loan to Africa Finance Corporation for on-lending purposes in April 2023 In April 2023, Africa Finance Corporation signed a $750 million syndicated term loan facility agreement with First Abu Dhabi Bank PJSC, FirstRand Bank Limited (London Branch), acting through its Rand Merchant Bank division, ICBC (London) plc, Mashreqbank PSC, MUFG Bank, Ltd., Standard Chartered Bank and SMBC Bank International plc for unspecified purposes.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

📋 Staff Comments

Africa Finance Corporation is a pan-African Multilateral Development Financial Institution established in 2007 by sovereign African states to provide pragmatic solutions to Africa's infrastructure deficit and challenging operating environment.
The precise monetary value of ICBC (London) Plc’s contribution to the syndicate is unknown. For the time being, AidData assumes equal contributions ($107,142,857) across the 7 known members of the syndicate. This issue warrants further investigation.

📚 Sources & References

Prospectus: AFRICA FINANCE CORPORATION U.S.$5,000,000,000 Global Medium Term Note Programme
AFC secures US$625 million Syndicated Loan with New Lenders from Middle East and Asia 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.