The Economic Development Department, Competition Commission, Competition Tribunal and ITAC have not borrowed funds from any entity in the People’s Republic of China.
With regards to the IDC, I have been furnished with a reply by the CEO of the IDC, Mr Geoffrey Qhena, to the question, which I quote as follows:
“IDC has borrowed funds from two Chinese Financial Institutions: a development finance institution (China Development Bank); and a commercial bank (China Construction Bank). Table 1 below provides details on loans raised with these institutions.”
Table 1: IDC arrangements with Chinese Lenders
Name of the Institution: |
(1). China Construction Bank (CCB) |
(2). China Development Bank (CDB) |
||
Loan Type: |
Bilateral loan |
Bilateral loan |
Short-term facility |
Bilateral loan |
Amount: |
50,000,000 |
75,000,000 |
50,000,000 |
100,000,000 |
Currency: |
USD |
USD |
USD |
USD |
Reference Rate: |
3 months Libor |
3 months Libor |
3 months Libor |
6 months Libor |
Period concluded: |
12 November 2015 |
13 October 2016 |
25 May 2018 |
23 April 2014 |
Tenure: |
5 years |
5 years |
1 year |
10 years |
Repayment terms: |
Bullet |
Bullet |
Bullet |
Amortising |
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