Active Mixed AidData Chinese Aid

ICBC contributes to $1.2 billion syndicated loan to Afreximbank for on-lending purposes in December 2021

$54.55M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	African Export-Import Bank (Afreximbank)
Country	Africa, regional
Start Date	Dec 21, 2021
End Date	Sep 14, 2028
Duration	2,459 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`92947`

Grant Description

ICBC contributes to $1.2 billion syndicated loan to Afreximbank for on-lending purposes in December 2021 On December 21, 2021, the African Export-Import Bank (Afreximbank) signed a $1.2 billion syndicated term loan facility agreement with a group of 22 banks, including the Industrial and Commercial Bank of China (ICBC).

📋 Loan / Grant Terms

💰 Loan Amountcarried a 3-year maturity and unknown interest rate

📅 Maturity3 years

First Abu Dhabi Bank PJSC, Rand Merchant Bank, a division of FirstRand Bank Limited (London Branch) and Standard Chartered Bank acted as joint Global Coordinators, Mandated Lead Arrangers and Bookrunners on the Facility. Standard Chartered Bank acted as Documentation Agent and is the Facility Agent for the transaction.

📋 Staff Comments

1. The exact size of ICBC’s contribution to the loan syndicate is unknown. For the time being, AidData assumes equal contributions ($54,545,454) across the 22 participants in the loan syndicate.

📚 Sources & References

Afreximbank raises US$1.2 billion in Syndicated Loan 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

African Export-Import Bank (Afreximbank)

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