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[China Co-Financing Fund] IDB administers 20 million USD loan from CHC to KfW's eco.business fund
| Funder | People's Bank of China (PBC) |
|---|---|
| Recipient Organization | eco.business Fund |
| Country | America, regional |
| Start Date | Dec 03, 2018 |
| End Date | Dec 21, 2032 |
| Duration | 5,132 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73917 |
Grant Description
[China Co-Financing Fund] IDB administers 20 million USD loan from CHC to KfW's eco.business fund On December 3, 2018, the private sector institution of the Inter-American Development Bank (IDB) Group, IDB Invest (formerly Inter-American Investment Corporation, or IIC) signed a loan agreement for a 60 million USD unsecured subordinated loan with the eco.business Fund, of which 20 million USD came from the China Co-Financing Fund for Latin America and the Caribbean (CHC).
The other 40 million USD came from IDB Invest's own funds.
Both loans had an up-to 6-year maturity period. The IDB approval date for this loan financing was August 1, 2017, and it refers to this project with code 11813-06.
The eco.business Fund is managed by the German Development Bank (KfW) and provides financing for business practices that conserve nature and foster biodiversity, with the intention of seeking investments with both environmental and financial returns.
The fund primarily provides loans for on-lending to borrowers who support sustainable operations in agriculture, fishery (including aquaculture), forestry and tourism sectors in Latin America and the Caribbean, as well as sub-Saharan Africa as of 2020. It is unknown what projects were ultimately funded by the loan.
The China Co-Financing Fund was established on 14 January 2013 with a contribution of 2 billion USD by the People's Bank of China, and it is administered by the IDB. For more information, see umbrella Record ID#86526.
Sources & References
- Fund
- IDB Invest finances eco.business Fund to support companies with sustainable business models
- Eco-business Fund para Latino-America y el Caribe
- IDB Invest lends USD 60 million to eco.business Fund for promoting sustainable business practices
- The Annual Public Debt Report for the 2020 Financial Year (Republic of Ghana)
- The Budget Statement and Economic Policy of the Government of Ghana for the 2021 FinancialYear
- THE TERM LOAN FACILITY AGREEMENT BETWEEN THE GOVERNMENT OF THE REPUBLIC OF GHANA (REPRESENTED BY THE MINISTRY OF FINANCE) AND INDUSTRIAL AND COMMERCIAL BANK OF CHINA (ICBC^ 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
eco.business Fund
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