Overview

CDB provides $250 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects

Commitments (Constant USD, 2023)$251,574,074

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

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 5, 2018

Last repayment (originally scheduled): Jun 3, 2027

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

China Development Bank (CDB)

Receiving agencies

State-owned Banks

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

Implementing agencies

State-owned Banks

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

Loan description

CDB provides $250 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for investment projects

Interest type•UnknownMaturity•9 years

Narrative

Full Description

Project narrative

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.

Staff comments

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 Record ID#54147).