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ICBC contributes to EUR 220 million syndicated loan to Afreximbank for unspecified purposes in May 2013
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | African Export-Import Bank (Afreximbank) |
| Country | Africa, regional |
| Start Date | May 01, 2013 |
| End Date | Nov 18, 2031 |
| Duration | 6,775 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92326 |
Grant Description
ICBC contributes to EUR 220 million syndicated loan to Afreximbank for on-lending purposes in May 2013 In May 2013, the African Export-Import Bank (Afreximbank) signed an EUR 220 million syndicated term loan facility agreement with a group of 11 banks for unspecified purposes.
Participants in the loan syndicate included Arab Banking Corp, BGFI Bank, Commerzbank, First Rand Bank, HSBC, Industrial and Commercial Bank of China (ICBC), Korea Development Bank, Bank of Tokyo-Mitsubishi UFJ, National Bank of Abu Dhabi, the Standard Bank of South Africa Limited, and Standard Chartered Bank.
Staff Comments
- The exact size of ICBC contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions ($20 million) across the 11 participants in the loan syndicate.
- This loan is not included in the Chinese Loans to Africa Database developed by SAIS-CARI and maintained by the Global Development Policy Center at Boston University.
Sources & References
- Afreximbank Annual Report and Financial Statements for the Year Ended December 31, 2013
- Afreximbank readies $500m loan launch
- Afrexim $1bn loan bolsters Africa flow 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
African Export-Import Bank (Afreximbank)
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