ICBC provides $34 million loan to Canadia Bank for unspecified purposes

¥34M RMB

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Canadia Bank PLC
Country	Cambodia
Start Date	Nov 27, 2014
End Date	May 16, 2032
Duration	6,380 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85675`

Grant Description

ICBC provides $34 million loan to Canadia Bank for unspecified purposes On November 27, 2014, Canadia Bank entered into a $34 million facility agreement with Industrial and Commercial Bank of China Limited, Phnom Penh Branch.

📋 Loan / Grant Terms

💰 Loan Amountcarried a 3-year maturity and annual interest rate of 3

📅 Maturity3 years

Based on the agreement, Canadia Bank was required to place a one-year fixed deposit with Industrial and Commercial Bank of China Limited, Phnom Penh Branch of RMB 211 million (approximately equivalent to $34 million).

📋 Staff Comments

1. The intent field has been coded as Mixed, as the purpose for the loan is unknown, and AidData cannot assume commercial intent.

📚 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.