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China Construction Bank contributes $30.5 million to $1 billion syndicated loan to help South African Reserve Bank support the country’s foreign currency position (Linked to Record ID#72441)
| Funder | China Construction Bank Corporation (CCB) |
|---|---|
| Recipient Organization | South African Reserve Bank (SARB) |
| Country | South Africa |
| Start Date | Jul 19, 2004 |
| End Date | Dec 25, 2030 |
| Duration | 9,655 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72443 |
Grant Description
In 2004, China Construction Bank and Bank of China contribute to USD 1 billion syndicated loan to South African Reserve Bank to support the country’s foreign currency position On July 19, 2004, South African Reserve Bank announced that it had entered into a $1 billion loan facility agreement with a syndicate of 39 banks and financial institutions.
The borrower was able to draw down on the loan in USD and/or Euro in order to support the country’s foreign currency position. As a Lead Manager of the syndicate, Bank of China committed $11.3 million. As a Mandated Lead Arranger of the syndicate, China Construction Bank committed $30.5 million.
Record ID#72441 captures Bank of China’s contribution to the loan syndicate and Record ID#72443 captures China Construction Bank’s contribution to the loan syndicate.
Sources & References
- Statement issued by Mr T.T. Mboweni
- Governor of the South African Reserve Bank, on the occasion announcing the successful syndication of the South African Reserve Bank’s USD1 billion Term Loan Facility
- Statement issued by Mr T.T. Mboweni
- Governor of the South African Reserve Bank, on the occasion announcing the successful syndication of the South African Reserve Bank’s USD1 billion Term Loan Facility
- Chinese Loans to Africa Database 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
South African Reserve Bank (SARB)
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