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AidData Chinese Aid
CDB provides $500 million loan to Standard Bank of South Africa Limited for on-lending purposes in July 2018
$500K
USD
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Standard Bank of South Africa Limited (Standard Bank) |
| Country | South Africa |
| Start Date | Jul 25, 2018 |
| End Date | Sep 26, 2029 |
| Duration | 4,081 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 58689 |
Grant Description
CDB provides $500 million loan to Standard Bank of South Africa Limited for on-lending purposes in July 2018 During July 25-27, 2018, when the 10th BRICS Summit was held in Johannesburg, China Development Bank (CDB) and the Standard Bank of South Africa signed a $500 million loan agreement. The borrower was expected to use the proceeds of the loan to on-lend to small- and medium-sized enterprises (SMEs).
The loan carried a 7-year maturity.
📋 Loan / Grant Terms
💰 Loan Amountare unknown
By December 2019, the loan had achieved a 60% disbursement rate ($300 million out of $500 million).
Sources & References
- Standard Bank’s Africa-China trade corridor links Africa and China in world’s next big growth partnership
- Annual integrated report 2018
- Standard Bank’s commitment to nurturing and promoting SME’s
- 国开行：3亿美元专项贷款助力南非中小企业发展
- 国开行：3亿美元专项贷款助力南非中小企业发展
- 国开行与南非标准银行签5亿美元中小企业贷款协议
- 国开行：累计提供融资超650亿美元 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
Standard Bank of South Africa Limited (Standard Bank)
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Start Year
2018
End Year
2029
Grantees
1
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