Active Development AidData Chinese Aid

CDB provides a $5 million USD line of credit to JSC BasisBank in 2016 to support international trade operations (Linked to Record ID#67718)

$5M USD

Funder	China Development Bank (CDB)
Recipient Organization	JSC BasisBank
Country	Georgia
Start Date	Feb 01, 2016
End Date	Aug 25, 2031
Duration	5,684 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67717`

Grant Description

CDB provides a $5 million USD line of credit to JSC BasisBank in 2016 to support international trade operations In early February 2016, China Development Bank issued a $5 million USD line of credit to Georgia's JSC BasisBank for the purpose of financing international trade operations. The line of credit was expected to contribute to financing of joint projects between Georgian and Chinese companies.

With this transaction, CDB became China's first financial institution to develop international financial cooperation with a local Georgian bank.

On the basis of the good cooperation found in this project, in July 2017 CDB and BasisBank signed a $15 million USD line of credit (captured by linked Record ID#67718) to finance small and medium-sized enterprises and further expand the financial cooperation between the banks.

📋 Staff Comments

The exact date when the loan was issued could not be identified, but the latest possible date the loan could have been issued was February 2, 2016 (as 'Basis Bank took credit line of $5 million' was published on this date).Private Chinese company Xinjiang Hualing Industry & Trade (Group) Co., Ltd (the 'Hualing Group') acquired a 90% equity stake in BasisBank in 2012; as of the end of 2014, it held a 92.78% interest in the bank.

📚 Sources & References

China Development Bank offers $15m to Georgia’s BasisBank
Basis Bank took credit line of $5 million
国家开发银行与格鲁吉亚Basis银行举行签约仪式
Development Bank of China has issued to BasisBank credit line in amount of USD 5 million
China Development Bank has visited JSC “ BasisBank” 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.