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CDB issues a $15 million USD line of credit to JSC BasisBank in 2017 to support SMEs (Linked to Record ID#66717)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | JSC BasisBank |
| Country | Georgia |
| Start Date | Jul 28, 2017 |
| End Date | Feb 17, 2028 |
| Duration | 3,856 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 67718 |
Grant Description
CDB issues a $15 million USD line of credit to JSC BasisBank in 2017 to support SMEs On July 28, 2017, China Development Bank (CDB) and Georgia's JSC BasisBank signed an agreement for the provision of a $15 million USD line of credit for the financing of small and medium-sized enterprises (SMEs) in Georgia.
In 2016, the CDB also issued a $5 million USD loan to JSC Basis Bank (captured by linked Record ID#67717) to JSC Basis Bank.
On the basis of this good cooperation, CDB provided the $15 million USD line of credit to further expand the financial cooperation between the banks.
Staff Comments
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
- The signing ceremony between the China Development Bank and the Basis Bank of Georgia
- 国家开发银行与格鲁吉亚Basis银行举行签约仪式
- China Development Bank has allocated credit line in amount of USD 15 million to 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.
All Grantees
JSC BasisBank
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