Active Mixed AidData Chinese Aid

China Development Bank provides $600 million loan to National Bank of Egypt for on-lending purposes

$600K USD

Funder	China Development Bank (CDB)
Recipient Organization	National Bank of Egypt (S.A.E.)
Country	Egypt
Start Date	Sep 04, 2018
End Date	Oct 21, 2028
Duration	3,700 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58515`

Grant Description

China Development Bank provides $600 million loan to National Bank of Egypt for on-lending purposes On September 4, 2018, China Development Bank (CDB) and the National Bank of Egypt (NBE) signed a $600 million loan agreement for on-lending purposes in the form of working capital loans to NBE customers.

The loan's final maturity date was in February 2024. The loan's interest rate is floating rather than fixed.

📋 Staff Comments

The borrowing terms of the loan are drawn from https://www.nbe.com.eg/AssetsManager/7467002e-9e7b-4d8a-8f34-eb8de8fded6e.pdf2. There is some evidence that suggests the $600 million CDB loan to NBE in 2018 and the $600 million CDB loan to NBE in 2021 are separate loans. However, there are also some indications that they are the same loan. This issue warrants further investigation.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

埃及国民银行（NBE）与国家开发银行签署6亿美元贷款协议, أكبر بنك صينى للتعاون الاستثماري والتمويل يؤكد ثقته في اقتصاد مصر
National Bank of Egypt signs $600 million loan agreement with China Development Bank
NBE signs $600M loan contract with China Development Bank
Egypt's NBE signs $600 mln loan deal with China Development Bank
埃及国民银行（NBE）与国家开发银行签署6亿美元贷款协议
埃及国民银行（NBE）与国家开发银行签署6亿美元贷款协议, 2018/2019 Annual Report 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

National Bank of Egypt (S.A.E.)

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