Loading grant details…
CDB provides $10 million loan to Infrastructural Development Bank of Zimbabwe for capital expenditures (Linked to Record ID#22494, #62410)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Infrastructure Development Bank of Zimbabwe (IDBZ) |
| Country | Zimbabwe |
| Start Date | Nov 21, 2011 |
| End Date | Oct 07, 2032 |
| Duration | 7,626 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 35873 |
Grant Description
China Development Bank provides $30 million line of credit to Infrastructural Development Bank of Zimbabwe On 21 November, 2011, the Zimbabwe Infrastructure Development Bank (IDBZ) signed a $30 million loan facility agreement with China Development Bank to support small and medium-sized enterprises in Zimbabwe (captured in Record ID#62410).
Per the terms of the agreement, $10 million (Tranche A) is earmarked for capital expenditures with a maturity of five years, which is captured in this project.
The remaining $20 million (Tranche B) is earmarked just for working capital and will mature in one year (captured in Record ID#22494). Tranche A and Tranche B both carry a 10% interest rate.
The Chinese Government was represented at the signing ceremony by the Ambassador to Zimbabwe, Xin Shunkang, IDBZ was represented by chief executive Charles Chikaura, and the Zimbabwean government was represented by Secretary for Finance, Willard Manungo, and Accountant General for the Ministry of Finance, Judith Madzorera.
Staff Comments
This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Sources & References
- 国开行搭建经合平台 支持“走出去”战略
- 驻津巴布韦大使忻顺康出席中国国家开发银行与津巴布韦基础设施发展银行3000万美元授信协议签约仪式
- 驻津巴布韦大使忻顺康出席中国国家开发银行与津基础设施发展银行3000万美元授信协议签约仪式
- Infrastructure Development Bank Secures U.S. $30 Million Loan Facility
- China Development Bank avails $30 million to SMEs
- IDBZ Annual Report 2012 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
Infrastructure Development Bank of Zimbabwe (IDBZ)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
