Active Mixed AidData Chinese Aid

Bank of China provides a $170 million syndicated loan to the Naspers Ltd. in South Africa

$170M USD

Funder	Bank of China (BOC)
Recipient Organization	Naspers Ltd.
Country	South Africa
Start Date	Jul 24, 2018
End Date	Apr 21, 2029
Duration	3,924 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`88527`

Grant Description

Bank of China contributes to USD 170 million syndicated loan to the Naspers Ltd. in South Africa On July 24, 2018, the Bank of China Chairman, Chen Siqing, signed a syndicated loan agreement with a South African company, Naspers Ltd. (NPSNY).

The agreement stipulates that the Bank of China will provide a loan with a total amount of USD 170 million and with 5-year maturity to Naspers Ltd. The agreement signing ceremony was held in Pretoria, South Africa.

This loan was one of the important projects signed by China and South Africa during President Xi Jinping's visit to South Africa starting from July 23, 2018. Naspers Ltd. is an e-commerce group company and one of the world's largest technology investors. They have a 31.2% stake in Tencent in China.

📋 Staff Comments

1. While this loan is described as syndicated, the only named participant is Bank of China; it is likely the loan was provided by multiple branches and/or subsidiaries of Bank of China, though the specific branches/subsidiaries are unknown. For the time being, AidData has coded the only funding agency as Bank of China. This issue merits further investigation.

📚 Sources & References

中国银行与南非报业集团在中南两国领导人见证下签署《银团贷款协议》
中国银行与南非报业集团在中南两国领导人见证下签署《银团贷款协议》
习近平抵达比勒陀利亚开始对南非共和国进行国事访问 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

Naspers Ltd.

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