Skip to content
AidData logo

Overview

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

Commitments (Constant USD, 2023)$103,397,129
Commitment Year•2013Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•Business And Other ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 18, 2013
Last repayment (originally scheduled)
Jul 16, 2021

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

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

Interest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

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.

Staff comments

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.