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Overview

CDB provides $75 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending to small businesses

Commitments (Constant USD, 2023)$96,460,385
Commitment Year•2010Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 11, 2010
Start (planned)
Jun 11, 2010
First repayment (originally scheduled)
Jun 10, 2013
Last repayment (originally scheduled)
Jun 9, 2018

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

  • National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Implementing agencies

State-owned Banks

  • National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Loan description

CDB provides $75 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending to small businesses

Grace period•3 yearsGrant element•22.6705%Interest rate (t₀)•4.24613%Interest type•Variable Interest RateMaturity•8 years

Narrative

Full Description

Project narrative

On June 11, 2010, National Bank for Foreign Economic Activity of Uzbekistan and China Development Bank (CDB) signed a $75 million line of credit agreement. The proceeds from the credit agreement will be used by the National Bank for Foreign Economic Activity of Uzbekistan for on-lending to small businesses and to investment projects. The minimum value of subsidiary loans approved through this line of credit set at $100,000, and the share of supply of Chinese goods was not to be less than 50%. The CDB credit line carried the following terms: 8 year maturity, 3 year grace period, and an interest rate of LIBOR + a 3.5% margin. The credit line was opened without state guarantees and without insurance on the part of the export-import agencies. In total, 162 projects worth $74.99 million were financed with the proceeds from the CDB credit line by 2015, according to the National Bank for Foreign Economic Activity of Uzbekistan.