Project ID: 40071

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

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2010-06-11

Planned start

2010-06-11

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

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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%

Bilateral loan

Inter-bank loan

Investment project loan