CDB provides $75 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending to small businesses
Commitment amount
$ 104454520.18471803
Adjusted commitment amount
$ 104454520.18
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Business and other services (Code: 250)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Number of official sources
4
Number of total sources
13
Details
Cofinanced
No
Direct receiving agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]
Implementing agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]
Loan Details
Maturity
8 years
Interest rate
4.33%
Grace period
3 years
Grant element (OECD Grant-Equiv)
18.8926%