CDB provides $250 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects
Commitment amount
$ 272462436.96966916
Adjusted commitment amount
$ 272462436.97
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 June 5, 2018, China Development Bank (CDB) and the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) signed a $250 million loan agreement to support an unspecified set of investment projects. This loan carried a maturity of 108 months (9 years). The other borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the proceeds of the loan to on-lend in order 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). According to NBU’s 2021 audited financial statements (pg. 42), this loan had achieved a disbursement rate of at least 41.9% ($104,806,067 out of $250,000,000) by the end of calendar year 2021.
Additional details
1. This CDB 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 $500 million loan agreement with China Eximbank (as captured via Project ID#54147).
Number of official sources
1
Number of total sources
10
Details
Cofinanced
No
Direct receiving agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]
Implementing agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]
Loan Details
Maturity
9 years