CDB provides $100 million loan to Absa Bank for on-lending to small- and medium-sized enterprises

$100M USD

Funder	China Development Bank (CDB)
Recipient Organization	Absa Group Ltd. (ABGL) (Formerly Barclays Africa Group Limited)
Country	South Africa
Start Date	Aug 18, 2017
End Date	Oct 07, 2027
Duration	3,702 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58678`

Grant Description

CDB provides $100 million loan to Absa Bank for on-lending to small- and medium-sized enterprises In August 18, 2017, China Development Bank (CDB) and Absa Bank Limited, a subsidiary of Barclay's Africa Group, concluded a five-year $100 million Special Facility Agreement. The loan was to be used by Absa Bank to assist small- and medium-sized enterprises (SMEs) who face funding shortages.

The initial drawdown was based on Absa Bank’s funding needs at that time.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

📚 Sources & References

Absa Bank Limited and China Development Bank conclude a $100 million agreement
South African
Chinese banks sign deal to fund SMEs in Africa
China Database 2017
South African
Chinese banks sign deal to fund SMEs in Africa 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.