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China Development Bank extends loan of 30 million USD to Interbank in Peru (possible linked to Record ID#36363)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Banco Internacional del Perú S.A.A. (Interbank Peru) |
| Country | Peru |
| Start Date | Jan 01, 2011 |
| End Date | Apr 04, 2028 |
| Duration | 6,303 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 36352 |
Grant Description
China Development Bank extends loan of 30 million USD to Interbank in Peru In 2011, Interbank, the flagship bank of Peruvian company Intergroup Financial Services (IFS), received a loan of $30 million from the China Development Bank to finance projects and businesses that stimulate trade between the two countries and Chinese investment in Peru.
This is the first loan between the two banks, and it has a term of five years.
This agreement is part of Interbank's business strategy to become the financial institution with which Peru can do business with China. Last year, Interbank and Bank of China established a joint service in Lima for investors of China, called China Desk.
The Interbank loan portfolio reached 12.453mn soles (US $ 4.550mn) at the end of the first quarter, up 24.5% compared to the same time in 2010.
Sources & References
- Interbank fortalece vínculos con China gracias a crédito de US$30mn de CBD
- Interbank recibe crédito de US$ 30 mlls.
- Interbank strengthens China links with US$30mn loan from CDB 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 Internacional del Perú S.A.A. (Interbank Peru)
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