Completed Development AidData Chinese Aid

China Development Bank provides JMD $887,524,000 loan to the Development Bank of Jamaica for on-lending purposes

$887.5K USD

Funder	China Development Bank (CDB)
Recipient Organization	Development Bank of Jamaica Limited (DBJ)
Country	Jamaica
Start Date	Feb 12, 2009
End Date	Nov 11, 2032
Duration	8,673 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69304`

Grant Description

China Development Bank provides JMD $887,524,000 loan to the Development Bank of Jamaica for on-lending purposes On February 12, 2009, the Chinese Government and the Government of Jamaica signed a set of agreements to facilitate expansion of technical and economic cooperation, which included a $10 million loan agreement between the Development Bank of Jamaica (DBJ) and China Development Bank (CDB).

According to DBJ annual reports, CDB provided a JMD $887,524,000 loan to the DBJ in 2009 for on-lending to projects that involved the purchase of goods and services from China.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: a maturity of 5 years

Repayment of the loan commenced on October 19, 2010. This loan was repaid in full by April 2014.

📋 Staff Comments

This CDB loan agreement was signed at the same time as the agreements captured via Project ID#39981 #39778 #39781.
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.
The Development Bank of Jamaica is a corporation wholly owned by the Government of Jamaica and is mandated to foster economic growth and development of strategic sectors of the Jamaican economy.
The China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center, identifies the face value of this CDB loan as $20 million. AidData relies on the official figure (JMD 887,524,000) that is reported in the DBJ annual reports, which is equivalent to approximately $10 million.

📚 Sources & References

Why the Development Bank of Jamaica
Jamaica Public Bodies
Xinhua News Agency: Jamaica and China have solid financial cooperation prospects
Annual Report 2010
PERFORMANCE AUDIT REPORT DEVELOPMENT BANK OF JAMAICA LIMITED (DBJ)
Annual Report 2010-2011
Annual Report 2014-2015
Annual Report 2013-2014
Annual Report 2009-2010
Annual Report 2012-2013
China Extends Over $10 Billion in Aid to Jamaica
China grants Jamaica $118 million in loans amid crisis
Cablegate: Jamaica Inks Deal with China
Aid from China
China-Latin America Finance Database
DBJ Annual Report 2010-2011
DBJ Annual Report 2011-2012
DBJ Annual Report 2012-2013
DBJ Annual Report 2013-2014
DBJ Annual Report 2014-2015
DBJ Annual Report 2009-2010 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.