China Eximbank and ICBC offer $5 billion loan to Petrobras (Linked to Record ID#38420)

$5M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Petróleo Brasileiro S.A. (Petrobras)
Country	Brazil
Start Date	Jan 01, 2010
End Date	Sep 11, 2031
Duration	7,923 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`39155`

Grant Description

China Eximbank and ICBC offer $5 billion loan to Petrobras In 2010, in response to Petrobras' corruption scandal, China offered a $10 billion line of credit, consisting of $5 billion from the China Development Bank (as captured via Record ID#38420) and $5 billion from the China Eximbank and ICBC (as captured via Record ID#39155).

📚 Sources & References

Petrobras Turns to China for $10 Billion to Avert Crunch
Petrobras to Get Additional Funds as Ties with China Deepen
Petrobras negocia empréstimo de US$ 10 bilhões com banco chinês
China investe pesado no Brasil
We have signed a US$5 billion funding agreement with China Development Bank
China loan to Petrobras may help pay most 2016 debt
Petrobras Gets $10 Billion Chinese Loan in Oil Supply Deal 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.