Completed Development AidData Chinese Aid

China Development Bank provides a $5 million USD loan to the Development Bank of Jamaica for on-lending purposes

$5M USD

Funder	China Development Bank (CDB)
Recipient Organization	Development Bank of Jamaica Limited (DBJ)
Country	Jamaica
Start Date	Jan 01, 2011
End Date	Apr 25, 2030
Duration	7,054 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69305`

Grant Description

China Development Bank provides a $5 million USD loan to the Development Bank of Jamaica for on-lending purposes In 2011, China Development Bank (CDB) and the Development Bank of Jamaica (DBJ) signed a $5 million loan agreement 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 period of 5 years and an interest rate of 6-month LIBOR plus 380 basis points

This loan was repaid in full by December 2014.

📋 Staff Comments

This CDB loan is not included in the China-Latin America Finance Database, which is co-produced by the Inter-American Dialogue and Boston University’s Global Development Policy Center.
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.
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

Why the Development Bank of Jamaica
Jamaica Public Bodies
Xinhua News Agency: Jamaica and China have solid financial cooperation prospects
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
Annual Report 2010
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 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.