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ABC provides export credit to Trade and Development Bank of Mongolia to finance imports from China
| Funder | Agricultural Bank of China (ABC) |
|---|---|
| Recipient Organization | Trade and Development Bank of Mongolia |
| Country | Mongolia |
| Start Date | Jul 01, 2011 |
| End Date | Jan 10, 2027 |
| Duration | 5,672 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 47000 |
Grant Description
ABC provides export credit to Trade and Development Bank of Mongolia to finance imports from China In July 2011, the Trade and Development Bank of Mongolia and the Agricultural Bank of China (ABC) signed an export credit agreement to finance imports from China. The loan proceeds were to be used by the borrower to finance imports from China.
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 outstanding balance of the ABC loan amounted to RMB 2,333,600 (MNT 835,336 thousand) as of December 31, 2016, and RMB 1,500,000 (MNT 461,310 thousand) as of December 31, 2015. The loan was fully repaid and there was no outstanding loan balance as of December 31, 2017.
Staff Comments
- The export credit agreement that was signed in July 2011 is also known as the Import Finance Facility Agreement and the Export Trade Agreement.
- The face value of the export credit agreement is unknown. For the time being, AidData relies on the highest recorded (principal) amount outstanding (RMB 2,333,600) under the export credit agreement as a proxy.
Sources & References
- Annual Bank Report 2011
- TDB ANNUAL REPORT 2017
- TDB ANNUAL REPORT 2016
- Offering Memorandum
- ANNUAL REPORT 2011 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
Trade and Development Bank of Mongolia
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