CDB provides $70 million loan to Canadia Bank for unspecified purposes

$70M USD

Funder	China Development Bank (CDB)
Recipient Organization	Canadia Bank PLC
Country	Cambodia
Start Date	Oct 28, 2015
End Date	Jan 17, 2028
Duration	4,464 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85673`

Grant Description

CDB provides $70 million loan to Canadia Bank for unspecified purposes On October 28, 2015, Canadia Bank and China Development Bank signed a $70 million loan (facility) agreement.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: a 5-year maturity

📅 Maturity5 years

⏳ Grace Period2.5 years

Interest was re-priced and payable every six months. As of November 2015, Canadia Bank had had fully utilized the $70 million loan.

📋 Staff Comments

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.
The intent has been coded as 'mixed', as it is unknown whether the loan was provided for development purposes.
Canadia Bank is a private bank. It is a wholly owned subsidiary of Overseas Cambodian Investment Corporation Ltd. (OCIC), a limited liability company organized under the laws of Cambodia.

📚 Sources & References

Annual Report 2015
Annual Report 2016
Annual Report 2014 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.