China Development Bank provides $30 million to Ipoteka Bank for on-lending purposes
Commitment amount
$ 34570144.71062921
Adjusted commitment amount
$ 34570144.71
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On July 26, 2017, China Development Bank and Ipoteka Bank -- a state-owned bank in Uzbekistan -- signed a $30 million loan agreement. The agreement was amended for an unknown purpose on October 22, 2019. The loan carried an 8-year maturity and an interest rate of 6-month LIBOR plus a 4% margin. The proceeds of the loan were to be used by the borrower to develop small businesses, promote private entrepreneurship, and to purchase modern equipment and tools. Repayments were to made semi-annually by the borrower. The (principal) amount outstanding was UZS 52,106,489,000 as of December 31, 2017 and UZS 654,839,000,000 as of December 31, 2020.
Additional details
1. AidData has estimated the all-in interest rate by adding 4% to average 6-month LIBOR in July 2017 (1.475%).
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Ipoteka Bank [State-owned Bank]
Implementing agencies [Type]
Ipoteka Bank [State-owned Bank]
Loan Details
Maturity
8 years
Interest rate
5.475%
Grant element (OECD Grant-Equiv)
4.6314%