CDB provides $30 million loan to Banco Comercial e de Investimentos (BCI) for SME on-lending purposes

$30M USD

Funder	China Development Bank (CDB)
Recipient Organization	Banco Comercial e de Investimentos (BCI)
Country	Mozambique
Start Date	Jul 24, 2019
End Date	Feb 16, 2029
Duration	3,495 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`92139`

Grant Description

CDB provides $30 million loan to Banco Comercial e de Investimentos (BCI) for SME on-lending purposes On July 24, 2019, China Development Bank and Banco Comercial e de Investimentos (BCI) signed a $30 million facility agreement. The borrower was expected to use the loan proceeds to on-lend to small- and medium-sized enterprises.

📋 Staff Comments

Incorporated in 1996, Banco Comercial e de Investimentos (“BCI”) is the largest bank in Mozambique. The bank provides a wide range of corporate, retail and commercial banking services to >1.5 million clients through a network of over 193 branches and outlets. The main shareholders are Portuguese banks Caixa Geral de Depositos (CGD) and Banco Portugues de Investimento (BPI).
One source (CGN) indicates that BCI also contracted a CDB loan in 2012. This issue warrants further investigation.

📚 Sources & References

What's the way forward for China-Africa infrastructure cooperation?
BCI e Banco de Desenvolvimento da China assinam contrato de financiamento às PME
BCI - O meu Banco
Facebook 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.