Completed Development AidData Chinese Aid

CDB provides $56.8 million loan to Equity Bank Kenya Limited for on-lending purposes in 2012

$56.8M USD

Funder	China Development Bank (CDB)
Recipient Organization	Kenya Equity Bank
Country	Kenya
Start Date	Sep 20, 2012
End Date	May 26, 2028
Duration	5,727 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`69475`

Grant Description

CDB provides $56.8 million loan to Equity Bank Kenya Limited for on-lending purposes in 2012 In 2012, China Development Bank (CDB) signed a $56.8 million (KES 4,983,000,000) loan agreement with Equity Bank Kenya Limited — a financial services provider headquartered in Nairobi, Kenya -- for on-lending purposes.

📋 Loan / Grant Terms

💰 Loan Amountcarried an interest rate of 6-month LIBOR plus a 2

📅 Maturity5 years

The loan was backed by an Equity Bank Kenya Limited directors’ guarantee. The loan had fully disbursed by 2014 and it was fully repaid by 2017.

📋 Staff Comments

This loan was likely part of an Africa-wide $1.454 billion lending program by the China Development Bank to support the development of SMEs.
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.
On May 16, 2010, CDB signed a separate loan agreement with Equity Bank Kenya Limited to support the development of small and medium-sized enterprises (SMEs) (as captured via Record ID#1264).

📚 Sources & References

ANNUAL REPORT AND FINANCIAL STATEMENTS 2014
Special Loan for the Development of African SMEs
Annual Report and Financial Statements 2013
Equity Bank Annual Report 2010
Equity Bank Annual Report 2011
ANNUAL REPORT AND FINANCIAL STATEMENTS 2015
Integrated Report and Financial Statements
Integrated Report and Financial Statements 2017
Annual Report and Financial Statements 2012 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

Kenya Equity Bank

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