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CDB provides a $50 million loan to TBC Bank for on-lending and general corporate purposes
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | JSC TBC Bank |
| Country | Georgia |
| Start Date | Aug 13, 2018 |
| End Date | Oct 16, 2028 |
| Duration | 3,717 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 67229 |
Grant Description
CDB provides a $50 million loan to TBC Bank for on-lending and general corporate purposes On August 13, 2018, China Development Bank (CDB) and JSC TBC Bank (‘TBC Bank’) signed a $50 million interbank loan agreement.
The loan carried a 3-year maturity (final maturity date: September 19, 2021) and interest was paid semi-annually at a rate of LIBOR plus an unspecified margin.
The proceeds of the loan were intended for general corporate purposes and were expected to help TBC Bank expand its financing operations for its Georgian clients, especially for small and medium-sized enterprises (SMEs) and microfinance clients, including those who have directly benefited from Georgia's increasing trade with China.
This was the first loan agreement TBC Bank had ever signed with CDB, as well as the largest loan from CDB to any Georgian entity.
As of March 31, 2019, the loan had achieved a 100% disbursement rate and its (principal) amount outstanding was $50 million.
Sources & References
- China Development Bank Loans TBC a Record $50m
- China Development Bank provides $50m loan to Georgia’s TBC Bank
- TBC Bank and CDB sign a USD 50 mln loan agreement
- US$300,000,000 5.75% Notes due 2024 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
JSC TBC Bank
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