CDB provides $90 million loan to Banreservas in 2023

$5.04M USD

Funder	China Development Bank (CDB)
Recipient Organization	Reserve Bank of the Dominican Republic (Banreservas)
Country	Dominican Republic
Start Date	Jan 01, 2023
End Date	Apr 27, 2033
Duration	3,769 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108539`

Grant Description

CDB provides $90 million loan to Banreservas in 2023 In 2023, China Development Bank (CDB) issued a $90 million (DOP 5,038,371,010) loan to Banreservas, the Dominican Republic's state-owned commercial bank.

The loan carried a fixed interest rate of 7.03% and was listed among the bank’s foreign liabilities in its 2023 financial statements published by the Dominican banking regulator (Superintendencia de Bancos). The loan was unsecured ("sin garantía") and was originally denominated in U.S. dollars. Other details, including maturity and use of proceeds, are not disclosed.

📋 Staff Comments

1. Implementation status justified because the funds are reported as part of outstanding liabilities in 2023, indicating disbursement has occurred.

📚 Sources & References

Estados financieros BRRD 2023 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.