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Overview

CDB provides $170 million loan via $650 million credit line to the Development Bank of Kazakhstan (Linked to Record ID#53574, #59136, and #53573)

Commitments (Constant USD, 2023)$185,422,667
Commitment Year•2016Country of Activity•KazakhstanDirect Recipient Country of Incorporation•KazakhstanSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2016
Last repayment (originally scheduled)
Dec 29, 2024

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

  • Development Bank of Kazakhstan JSC (Baiterek or DBK)

Loan description

CDB provides $170 million loan via $650 million credit line to the Development Bank of Kazakhstan

Interest type•UnknownMaturity•9 years

Narrative

Full Description

Project narrative

On March 17, 2015, China Development Bank (CDB) signed a $650 million credit line agreement with the Development Bank of Kazakhstan JSC (DBK), as captured via Record ID#53574. The credit line was intended to finance projects in the sectors of energy, transport, infrastructure, manufacturing, information technologies, agriculture, and other sectors. The credit line aimed to finance joint Kazakh-Chinese and other projects. The maturity date of each loan made under this loan agreement was June 15, 2025. In June 2015, DBK drew down $200 million from the credit line (as captured via Record ID#53573). The intended use of these funds is unclear. The interest rate was initially 5.7%. The loan's interest rate was changed from fixed to floating in 2016. In 2016, DBK drew down $170 million for unspecified purposes, as captured via Record ID#53572. Then, between December 31, 2016 and June 30, 2017, DBK drew down an additional $80 million for unspecified purposes, leaving the credit line with $200 million remaining, as captured via Record ID#59136.

Staff comments

1. While the loan's maturity length is unknown, its final maturity date is known, so AidData has assumed that the loan's maturity was 9 years and coded it accordingly.