China Development Bank pledges USD 1 billion loan to South Africa Standard Bank

$1M USD

Funder	China Development Bank (CDB)
Recipient Organization	Standard Bank of South Africa Limited (Standard Bank)
Country	South Africa
Start Date	Sep 01, 2017
End Date	Dec 30, 2026
Duration	3,407 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58685`

Grant Description

China Development Bank pledges USD 1 billion loan to South Africa Standard Bank In August 2017, during the 7th BRICS Financial Forum, the China Development Bank (CDB) and the Standard Bank of South Africa signed a Memorandum of Understanding for CDB to provide a loan of USD 1 billion dollars to the Standard Bank.

These funds would be used to improve the financing capacity of small- and medium-sized enterprises in Africa and promote economic and social development across the continent.

📋 Staff Comments

could not find any additional sources for this loan; it seems like it was pledged but never followed up. The terms of the loan are unknown, and it is not certain that CDB and Standard Bank ever actually signed an agreement for this loan.

📚 Sources & References

国开行与南非标准银行共同支持非洲中小企业发展 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.