Completed Mixed AidData Chinese Aid

ICBC participates in $200 million syndicated three-year term loan facility to Africa Finance Corporation (AFC) for general corporate purposes in 2017

$40M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Africa Finance Corporation (AFC)
Country	Africa, regional
Start Date	Jan 01, 2017
End Date	Sep 01, 2027
Duration	3,895 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96615`

Grant Description

ICBC participates in $200 million syndicated three-year term loan facility to Africa Finance Corporation (AFC) for general corporate purposes In 2017, Africa Finance Corporation (AFC) signed a US$200mn three-year term loan facility, to be used for general corporate purposes, including facilitating trade.

The facility will support the execution of the corporation’s infrastructure development mandate and provide the necessary capital resources required to continue bridging Africa’s infrastructure deficit and facilitating international trade.

Mandated lead arrangers and book runners on the facility were First Abu Dhabi Bank, Industrial and Commercial Bank of China, Rand Merchant Bank and Mitsubishi UFJ Financial Group. KfW Ipex-Bank joined as an arranger. Norton Rose Fulbright and Jackson Etti & Edu acted as lenders’ counsel, with White & Case as borrower’s counsel.

📋 Staff Comments

1. The precise size of the contribution of ICBC to the loan syndicate is unknown. For the time being, AidData assumes equal contributions to the $200 million loan ($40,000,000) across the 5 known participants in the loan syndicate.

📚 Sources & References

Africa Finance Corporation secures term loan 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.