Active Development AidData Chinese Aid

CDB provides $250 million loan to Banque Misr for unspecified purposes in 2021

$250M USD

Funder	China Development Bank (CDB)
Recipient Organization	Banque Misr
Country	Egypt
Start Date	Dec 01, 2021
End Date	Aug 06, 2028
Duration	2,440 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`97793`

Grant Description

CDB provides $250 million loan to Banque Misr for unspecified purposes in 2021 In December 2021, China Development Bank and Banque Misr (Misr Bank) — a bank that is wholly owned by the Government of Egypt — signed a $250 million facility (loan) agreement. The purpose of the loan is unknown.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following borrowing terms: a 3 year maturity

📅 Maturity3 years

⏳ Grace Period3 years

The borrower is responsible for repaying the entirety of the loan’s principal in a single, lump sum (bullet payment) at maturity (December 2024). It is also responsible for making semi-annual interest payments from June 2022 to December 2024.

📋 Staff Comments

Upon request from AidData, a confidential source with direct knowledge of the transaction has confirmed the loan's face value, commitment date, interest rate, grace period, and final maturity date.
The face value, commitment date, interest rate, grace period, and final maturity date of the loan identified in this record is consistent with the data that the Government of Egypt has voluntarily disclosed to the World Bank through the Debtor Reporting System (DRS).
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 facility (loan) agreement is referenced here: http://se.china-embassy.gov.cn/eng/zgxw_0/202310/t20231020_11164541.htm

📚 Sources & References

IDS Average Interests Rates
DRS Official Commitments from China Through 2021
IDS_Average_grace_period_and_maturity_on_new_external_debt_commitments
List of Practical Cooperation Deliverables of the Third Belt and Road Forum for International Cooperation 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.