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China Eximbank offers $900 million credit line to Metrobank in 2017
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Metropolitan Bank & Trust Company (Metrobank) |
| Country | Philippines |
| Start Date | May 12, 2017 |
| End Date | Sep 05, 2032 |
| Duration | 5,595 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 64752 |
Grant Description
China Eximbank offers $900 million credit line to Metrobank in 2017 On May 12, 2017, the President of the Metropolitan Bank and Trust Company (Metrobank Group), Fabian S.
Dee, met with the President of the Export-Import Bank of China, Liu Liange, and signed the Strategic Cooperation Framework Agreement regarding Lines of Credit.
Under this agreement, China Eximbank agreed in principle to make a $900 million line of credit available to Metrobank for the financing of projects relating to product export, natural resources and energy development, and project contracting. It is unclear if any specific/individual loans were approved through this line of credit.
Staff Comments
The Metropolitan Bank and Trust Company (PSE: MBT), commonly known as Metrobank, is the second largest (private) bank in the Philippines.[2] It offers various financial services, from regular banking to insurance. It is the commercial and retail banking arm of GT Capital Holdings Corporation.
Sources & References
- Assistance of Metrobank Group to “Belt and Road” Strategy of the Chinese Government in Philippines
- Metrobank Annual Report 2017
- Metrobank Inks partnership with Export-Import Bank of China
- List of Deliverables of the Belt and Road Forum for International Cooperation 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
Metropolitan Bank & Trust Company (Metrobank)
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