China Development bank extended $800 million USD credit for Brazilian Development Bank

$800K USD

Funder	China Development Bank (CDB)
Recipient Organization	Brazilian Development Bank (BNDES)
Country	Brazil
Start Date	May 19, 2009
End Date	Jun 01, 2029
Duration	7,318 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`41174`

Grant Description

China Development bank extended $800 million USD credit for Brazilian Development Bank May 19, 2009, China Development Bank provided a US$800-million credit extension with the national development bank BNDES. to bolster its cash reserves amid the ongoing global financial crisis.

According to Brazilian Emboffs, as part of their expanded cooperation, CDB will open an office in Brazil and BNDES will open an office in China.

However, another source in 2011 saying that the two parties haven't agreed upon the terms, and BNDES hasn't received the credit line yet. The financial amount is taken out because there is no indication that the credit line has been used on any projects.

📚 Sources & References

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Brazil must do more to cap real's rise - BNDES chief
BRAZILIAN PRESIDENT LULA'S TRIP TO CHINA FOCUSES ON TRADE AND INVESTMENT 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.