China Development Bank provides $100 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending purposes

On July 18, 2013, China Development Bank (CDB) and the National Bank for Foreign Economic Activity of Uzbekistan (NBU) signed a $100 million credit facility agreement for on-lending purposes and to encourage small enterprise and entrepreneurship development in Uzbekistan. As of 2015, NBU had drawn down $51.9 million under this facility to support 42 projects (via on-lending). NBU issued credits for up to 8 years and to finance up to 85% of the cost of import contracts for supplying technological equipment and corresponding maintenance of goods and services. Supplies through the contracts were to be of no less than 50% Chinese origin.

Additional details

1. The loan commitment date is identified via https://nbu.uz/upload/iblock/654/nbu_annual_report_2015_uzb.pdf 2. No sources explicitly indicated that this was a buyer's credit loan. AidData assumes this is the case for the following reasons: (1) the loan is provided to a foreign borrower, (2) the loan is denominated in USD, (3) the face value of the loan is explicitly identified in multiple official sources, (4) the loan proceeds were to be used to finance up to 85% of the cost of commercial contracts, and (5) supplies through the commercial contracts were to be of no less than 50% Chinese origin.

Number of official sources

1

Number of total sources

5