Active Development AidData Chinese Aid

CDB provides RMB 260 million loan to Société Arabe Internationale de Banque (SAIB Bank) for infrastructure construction projects (Linked to Record ID#58640)

¥260M RMB

Funder	China Development Bank (CDB)
Recipient Organization	Société Arabe Internationale de Banque (SAIB Bank)
Country	Egypt
Start Date	Sep 17, 2017
End Date	May 21, 2032
Duration	5,360 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58647`

Grant Description

CDB provides RMB 260 million loan to Société Arabe Internationale de Banque (SAIB Bank) for infrastructure construction projects On September 17, 2017, at the Banque Misr headquarters in Cairo, China Development Bank (CDB) signed and Société Arabe Internationale de Banque (SAIB Bank) — a private bank that is jointly owned by Arab International Bank (46.08%), Arab Contractors Investment (17.292%), Misr Insurance Co (11.29%), Misr Life Insurance (9.75%), Hasan Hosni Ibrahim Abdel Meguid (0.01%) — signed an RMB 260 million loan agreement for an unspecified set of infrastructure development activities in Egypt.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The signing of the loan agreement was attended by China's Ambassador to Egypt, Song Aiguo, and SAIB Bank's Vice Chairman Hassan Abdel-Meguid, and CDB's Executive Vice President, Wang Yongsheng. However, according to SAIB Bank's end of year financial statement in 2017, the CDB loan had not yet disbursed.

Also, as of September 30, 2019, the CDB loan had still not disbursed.

Also, on September 17, 2017, CDB issued a $40 million loan to SAIB Bank for on-lending to SMEs (as captured in Record ID#58640).

📋 Staff Comments

The loan documented in Project ID#58647 is not included in SAIB Bank's annual reports or financial statements from December 31, 2017 to September 30, 2019, nor is it mentioned in any CDB annual reports.

📚 Sources & References

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国开行“一带一路”人民币专项贷款首次落地埃及 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.