Completed Mixed AidData Chinese Aid

Trade and Development Bank of Mongolia enters into credit facility agreement with ICBC to finance Chinese imports

¥5.04M RMB

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Trade and Development Bank of Mongolia
Country	Mongolia
Start Date	Dec 01, 2010
End Date	Jun 06, 2028
Duration	6,397 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`46997`

Grant Description

Trade and Development Bank of Mongolia enters into credit facility agreement with ICBC to finance Chinese imports In December 2010, Trade and Development Bank of Mongolia (TDB) entered into a credit facility agreement with the Industrial and Commercial Bank of China (ICBC). The proceeds of the loan were to be used to by the borrower to on-lend (re-lend) to TDB’s customers (borrowers.

The (principal) amount outstanding under the agreement amounted to RMB 4,826,000 (MNT 1,727,515 thousand) as of December 31, 2016 and $245,454 (MNT 489,921 thousand) and RMB 31,113,205 (MNT 9,568,555 thousand) as of December 31, 2015.

The amounts and currencies of denomination of each drawdown, applicable interest rates, disbursement dates, and repayment dates were to be agreed with ICBC on a case by case basis.

The repayment dates for the loan varied in accordance with the maturity lengths of the various subsidiary loans that Trade and Development Bank of Mongolia issued (on-lent) to different borrowers. The loan was fully repaid and there was no amount outstanding as of December 31, 2017.

📋 Staff Comments

1. The face value of the credit facility agreement is unknown. For the time being, AidData relies on the highest recorded (principal) amount outstanding under the credit facility agreement as a proxy. $245,454 + RMB 31,113,205 ($4,791,433.57) = $5,036,887.57.

📚 Sources & References

Trade & Development Bank Annual Report 2010
TDB ANNUAL REPORT 2017
TDB ANNUAL REPORT 2016
Offering Memorandum 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.