China Eximbank provides $500 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects
Commitment amount
$ 544924873.9393383
Adjusted commitment amount
$ 544924873.94
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [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 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.
Additional details
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 Project ID#54148).
Number of official sources
1
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]