Completed Development AidData Chinese Aid

Trade and Development Bank of Mongolia signs agreement with ICBC for reimbursement refinancing of Chinese imports

$1.87M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Trade and Development Bank of Mongolia
Country	Mongolia
Start Date	Sep 01, 2014
End Date	Sep 26, 2027
Duration	4,773 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`47003`

Grant Description

Trade and Development Bank of Mongolia signs agreement with ICBC for reimbursement refinancing of Chinese imports In September 2014, Trade and Development Bank of Mongolia (TDB) and the Industrial and Commercial Bank of China (ICBC) signed an Agreement for Reimbursement Refinancing of Imports and Reimbursement Refinancing, which was designed to provide access to refinancing through TDB’s 1,500 branches.

The amount and currency of each drawdown, the applicable interest rate, disbursement date, repayment date and certain other terms and conditions of each drawdown were to be agreed upon by TDB and its customers (borrowers) on a case by case basis. The outstanding loan balance amounted to $1,872,000 (MNT 4,947,546,000) as of December 31, 2018.

📋 Staff Comments

1. The face value of the Agreement for Reimbursement Refinancing of Imports and Reimbursement Refinancing is unknown. For the time being, AidData relies on the highest recorded (principal) amount outstanding ($1,872,000) under the agreement as a proxy.

📚 Sources & References

TDB ANNUAL REPORT 2018
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.

All Grantees

Trade and Development Bank of Mongolia

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