China Development Bank provides $15.5 million loan for the Uzbektelecom Telecommunication Network Reconstruction Project

Project narrative

In 2007, China Development Bank provided an $15,566,490 loan to Aloqabank for on-lending to Uzbektelecom (a state-owned telecommunications operator). The agreement was signed on January 23, 2007. Uzbektelecom used the proceeds of this loan to purchase telecommunication equipment from Huawei. The loan carries the following terms: 8 year maturity, 2 year grace period, interest rate of 6-month LIBOR plus an unknown margin, 0.15% commitment fee, and 0.30% management fee. Huawei was the contractor. The total value of Uzbektelecom's contract with Huawei was $18.313 million, and it included 70 mobile phone base stations installed in 9 regions with a total capacity of 40,000 gates; 36 data transmission systems with a total capacity of 100,000 ports; and 124,000 NGN network devices and 5.56 million ports of C&C08 type digital communication station equipment. The Uzbektelecom Telecommunication Network Reconstruction Project was completed on September 30, 2008.