Loading grant details…
CDB provides $1 million working capital loan to Wonder Lighting Egypt
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Wonder Lighting Egypt Co. |
| Country | Egypt |
| Start Date | Oct 01, 2010 |
| End Date | Feb 11, 2031 |
| Duration | 7,438 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64746 |
Grant Description
CDB provides $1 million working capital loan to Wonder Lighting Egypt In October 2010, China Development Bank (CDB) issued a $1,000,000 working capital loan to Wonder Lighting Egypt Co., a private company in Egypt that is owned by China Shanghai Wonder Lighting & Machine Co., Ltd. The loan disbursed in October 2010 and it had a one year maturity.
The proceeds of the loan were to be used by the borrower to purchase raw materials and cover Wonder Lighting Egypt's regular operating costs.
According to the Chinese Ministry of Commerce (MOFCOM), the loan eased local Egyptian demand for electric light products and offered more than 200 jobs opportunities to Egyptians. Wonder Lighting Egypt was founded in November 2005 with a registered capital of EGP 12 million (about $2.55 million).
Staff Comments
It is possible that this loan is disbursed in multiple tranches. According to the China Council for the Promotion of International Trade (CCPIT) Guangzhou Committee, part of the $1,000,000 loan was disbursed in a $200,000 tranche. While the interest rate of the loan is not known, both CDB and MOFCOM describe the loan as having development intent.
Sources & References
- CDB issues 1st loan for African SMEs
- Introduction to the Special Loan for the Development of African SMEs
- Introduction to Special Loan of China Developing Bank for the Development of African SMEs
- China Development Bank issues first Africa loan to Egypt
- 国家开发银行 非洲中小企业发展专项贷款
- 非洲中小企业发展专项贷款介绍 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
Wonder Lighting Egypt Co.
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
