Overview

China Eximbank provides $500 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects

Commitments (Constant USD, 2023)$503,148,147

Commitment Year•2018Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 5, 2018

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Loan description

China Eximbank provides $500 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects

Interest type•Unknown

Narrative

Full Description

Project narrative

On June 5, 2018, China Eximbank and the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) signed a $500 million loan agreement to support an unspecified set of investment projects. The borrowing terms of the loan are unknown. However, it is known that the borrower was to use the proceeds of the loan to support large investment projects (with an emphasis on the supply of high-tech equipment and the creation of import-substituting and export-oriented industries) as well as the projects of small- and medium-sized enterprises (SMEs). This loan was reportedly the first that China Eximbank ever issued to NBU without a sovereign guarantee.

Staff comments

1. This China Eximbank loan is not included in China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020. 2. On June 5, 2018, NBU also signed a $250 million loan agreement with China Development Bank (as captured via Record ID#54148).