Active Development AidData Chinese Aid

China Construction Bank contributes $36 million to $1.5 billion syndicated loan to help South African Reserve Bank and National Treasury support the country’s foreign currency position

$36M USD

Funder	China Construction Bank Corporation (CCB)
Recipient Organization	South African Reserve Bank (SARB)
Country	South Africa
Start Date	Jul 30, 2001
End Date	Jul 31, 2027
Duration	9,497 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72494`

Grant Description

China Construction Bank contributes $36 million to $1.5 billion syndicated loan to help South African Reserve Bank and National Treasury support the country’s foreign currency position On July 30, 2001, a group of banks including China Construction Bank (CCB) signed a $1.5 billion loan facility agreement with the South African Reserve Bank (SARB) and the South African National Treasury to support the country’s foreign currency position.

There were four types of lenders in the syndicate: Lead Arrangers committed $69 million, Co-Arrangers committed $36 million, Senior Lead Managers committed to $23 million, and Lead Managers committed $12 million. As a Co-Arranger, CCB committed $36 million.

📋 Loan / Grant Terms

📅 Maturity3 years

💹 Interest Rate4.601%

It is unclear whether SARB or the National Treasury ever drew down this facility.

📋 Staff Comments

1. 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

Chinese Loans to Africa Database
On the occasion announcing the successful syndication of the South African Reserve Bank and National Treasury's USD 1,5 billion Term Loan Facility
Joint statement issued by Mr T.T. Mboweni
Governor of the South African Reserve Bank, and Mr T.A. Manuel
Minister of Finance 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.