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China Development Bank provides $3,276,416 loan to State Grid Brazil Holding S.A.
| Funder | China (People's Republic of) |
|---|---|
| Recipient Organization | Brazil |
| Country | Brazil |
| Start Date | Jul 18, 2014 |
| End Date | Jan 19, 2026 |
| Duration | 4,203 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 60083 |
Grant Description
China Development Bank loans $3,276,416 to State Grid Brazil Holding S.A.
On December 19, 2014, China Development Bank contracted a $3,276,416 loan to State Grid Brazil Holding S.A. for its subsidiary Expansion Transmissão Itumbiara Marimbondo S.A. (ETIM). SGID is a state-owned Chinese company that handles investment, construction, and operations of power grids.
The loan has an interest rate of LIBOR + 2.55% (Dec. 2014 6 month LIBOR average + 2.55 = 2.893%) and matures on June 20, 2015 with payments of principal and interest on this date. 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.
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Brazil
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