Project ID: 40234

CDB provides $100 million loan to Development Bank of Kazakhstan for on-lending activities in April 2009 (Linked to Project ID#53545)

Commitment amount

$ 150201004.8274792

Adjusted commitment amount

$ 150201004.83

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Kazakhstan

Sector

Other multisector (Code: 430)

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

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2009-04-15

Geography

Description

On February 20, 2008, the Development Bank of Kazakhstan JSC (DBK) and China Development Bank signed a $100 million loan agreement (ID#650068195200851026) with a 10.33 year maturity (final maturity date: June 23, 2018) and a 3-year maturity. This loan is captured via Project ID#40164. On December 22, 2008, the Development Bank of Kazakhstan JSC (DBK) and China Development Bank signed a $100 million loan agreement (ID#6500681952008510201) with a 10 year maturity (final maturity date: December 15, 2018) and a 3-year maturity. This loan is captured via Project ID#53545. On April 15, 2009, the Development Bank of Kazakhstan JSC (DBK) and China Development Bank signed a $100 million loan agreement (ID#6500681952009510083) with a 10 year maturity (final maturity date: April 15, 2019) and a 3-year maturity. This loan is captured via Project ID#40234. The proceeds of these three loans were to be used by the borrower to engage in on-lending activities and support long-term infrastructure projects in energy, transport and communication sectors, as well as chemical and petrochemical, and metallurgical industries. Under all three loan agreements, principal and interest is paid semi-annually. The CDB loan agreements contain covenants requiring DBK, inter alia, to comply with applicable FMSA capital adequacy ratios and to maintain a debt to equity ratio of 6:1. DBK obtained a waiver of the debt to equity ratio requirement for the year 2017. As of June 30, 2017, the aggregate principal amount outstanding under these three loans was $63.0 million and DBK had a Basel II capital adequacy ratio of 18.65%.

Additional details

1. This CDB loan is not included in the China’s Overseas Development Finance Dataset published by Boston University's Global Development Policy Center.

Number of official sources

3

Number of total sources

6

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Details

Cofinanced

No

Direct receiving agencies [Type]

Development Bank of Kazakhstan JSC (DBK) [State-owned Bank]

Loan Details

Maturity

10 years

Grace period

3 years

Bilateral loan

Inter-bank loan

Investment project loan