Industrial and Commercial Bank of China Limited - Phnom Penh Branch provides $21 million loan to Acleda Bank Plc. for unspecified purposes

$21M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	ACLEDA Bank Plc.
Country	Cambodia
Start Date	Sep 16, 2016
End Date	Aug 26, 2033
Duration	6,188 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`85719`

Grant Description

Industrial and Commercial Bank of China Limited - Phnom Penh Branch provides $21 million loan to Acleda Bank Plc. for unspecified purposes In 2016, Acleda Bank entered into a $21,000,000 loan agreement for a line of credit with Industrial and Commercial Bank of China Limited - Phnom Penh Branch. The full $21 million USD was drawn down on September 19, 2016.

The maturity date is September 19, 2019, which gives a 3-year maturity. The loan was to be repaid in full on its maturity date, and its purpose was not specified.

📋 Staff Comments

AidData has inferred the commitment year to be 2016, as this loan is not in the 2015 Annual Report produced by Acleda Bank.

📚 Sources & References

Annual Report 2015
Disclosure Documents
Annual Report 2016 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.