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Overview

CDB provides $300 million term master facility to DBZ for on-lending purposes in May 2023

Commitments (Constant USD, 2023)$300,000,000
Commitment Year•2023Country of Activity•KazakhstanDirect Recipient Country of Incorporation•KazakhstanSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
May 18, 2023
Last repayment (originally scheduled)
May 14, 2038

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

State-owned Banks

  • Development Bank of Kazakhstan JSC (Baiterek or DBK)

Implementing agencies

State-owned Banks

  • Development Bank of Kazakhstan JSC (Baiterek or DBK)

Loan description

CDB provides $300 million term master facility to DBZ for on-lending purposes in May 2023

Interest type•UnknownMaturity•15 years

Narrative

Full Description

Project narrative

On May 18, 2023, China Development Bank (CDB) and Development Bank of Kazakhstan JSC signed a $300 million term master facility. The complete borrowing terms of the facility are unknown. However, it is known that the borrower is expected to on-lend the proceeds of the loan to support investment projects in such sectors of Kazakhstan economy as energy, transport, mining, petrochemical production, the production of building materials, and agriculture. The facility matures in 15 years from the draw down date under each sub-loan agreement. In May 2024 and August 2024, DBK drew down U.S.$15.9 million and U.S.$7.2 million under the master facility, respectively. Proceeds of these drawdowns are to finance the construction of a plant for the production of a complex alloy, ferrosilicon. As at 30 June 2024, the aggregate principal amount outstanding under the master facility agreement was U.S.$15.9 million.