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CDB provides $20 million term loan to Trade and Development Bank of Mongolia for on-lending purposes
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Trade and Development Bank of Mongolia |
| Country | Mongolia |
| Start Date | Jul 14, 2016 |
| End Date | Dec 11, 2030 |
| Duration | 5,263 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66157 |
Grant Description
CDB provides $20 million term loan to Trade and Development Bank of Mongolia for on-lending purposes On July 14, 2016, China Development and the Trade and Development Bank of Mongolia signed a $20 million term facility agreement. The proceeds of the loan were to be used by the borrower to on-lend to local Mongolian companies at low interest rates.
The CDB loan carried a 3-year maturity and the interest of the facility was repayable semi-annually until final repayment due at the maturity of the facility in January 2020.
The principal amounts outstanding under the China Development Bank Loan bear interest at a rate of LIBOR plus 4.5% per annum, payable semi-annually beginning on the date of first use of funds under the facility.
The outstanding balance of the loan amounted to $19,927,092 (MNT 52,665,710 thousand) and $19,860,943 (MNT 48,205,091) on December 31, 2018 and December 31, 2017, respectively.
Staff Comments
- The CDB loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- TRADE AND DEVELOPMENT BANK AND CHINA DEVELOPMENT BANK SIGN A LOAN AGREEMENT IN THE AMOUNT OF USD 20 MILLION DURING THE 11TH ASEM SUMMIT
- TDB ANNUAL REPORT 2017
- China's Overseas Development Finance
- TDB ANNUAL REPORT 2018
- TDB ANNUAL REPORT 2016, lNFORMATION MEMORANDUM 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
Trade and Development Bank of Mongolia
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