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Overview

CDB provides $200 million loan via $650 million credit line to the Development Bank of Kazakhstan (Linked to Record ID#59136, #53574, and #53572)

Commitments (Constant USD, 2023)$209,239,676
Commitment Year•2015Country of Activity•KazakhstanDirect Recipient Country of Incorporation•KazakhstanSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Mar 17, 2015
Start (actual)
Jun 1, 2015
Last repayment (originally scheduled)
Mar 14, 2025

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 $200 million loan via $650 million credit line to the Development Bank of Kazakhstan

Grant element•14.6839%Interest rate (t₀)•5.7%Interest type•Fixed Interest RateMaturity•10 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. Although the interest rate changed from fixed to floating, in the absence of the current floating, AidData has elected to keep 5.7% as the coded interest rate for the time being.