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Overview

CDB provides $100 million loan for telecommunications projects (Linked to Record ID#43087 and #54035)

Commitments (Constant USD, 2023)$102,555,318
Commitment Year•2014Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Aug 19, 2014
First repayment (originally scheduled)
Aug 18, 2017
Last repayment (originally scheduled)
Dec 31, 2023

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 companies

  • Uztelecom JSC

Implementing agencies

Private Sector

  • Huawei Technologies Co., Ltd.

Loan description

CDB provides $100 million loan for telecommunications projects

Grace period•3 yearsGrant element•24.6914%Interest rate (t₀)•4.2285%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•9.375 years

Narrative

Full Description

Project narrative

In December 2014, China Development Bank agreed in principle to provide a $550 million loan to Uzbektelecom (as captured via Record ID#43087) for the purposes of telecommunication network expansion, developing the CDMA-450 mobile network, and implementation of FTTx fiber technology to Uzbekistan to develop the Uzmobile national GSM-operator. However, on August 19, 2014, China Development Bank ultimately provided a $100 million loan to Uzbektelecom that carried a maturity of 9.375 years (final maturity: December 31, 2023), a grace period of 3 years, and an interest rate of 6-month LIBOR plus a 3.9% margin. Through this project, Uzbektelecom planned to install 3,900 base stations and 4,000 sets of radio relay equipment with the license capacity of 8 million numbers. The first phase of the project covered 1,020 of those base stations with the ablility to service 2 million numbers. Aloqabank also provided a $17.6 million loan to support this project. Huawei Technologies was the contractor responsible for project implementation.

Staff comments

1. One of the projects supported by the $100 million CDB loan was called the CDMA-450 Cellular Network Expansion Project. 2. In 2012, China Development Bank financed the CDMA-450 mobile network and FTTx fiber technology through a $27 million loan (captured via Record ID#54035).