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Overview

CDB provides $80 million through $650 million credit line to the Development Bank of Kazakhstan (Linked to Record ID#53574, #53572, and #53573)

Commitments (Constant USD, 2023)$85,130,110
Commitment Year•2017Country of Activity•KazakhstanDirect Recipient Country of Incorporation•KazakhstanSector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jun 1, 2017
Last repayment (originally scheduled)
Dec 30, 2024

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

  • Development Bank of Kazakhstan JSC (Baiterek or DBK)

Implementing agencies

State-owned Banks

  • Development Bank of Kazakhstan JSC (Baiterek or DBK)

Loan description

CDB provides $80 million through $650 million credit line to the Development Bank of Kazakhstan

Interest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On March 17, 2015, China Development Bank (CDB) signed a $650 million credit line agreement with the Development Bank of Kazakhstan JSC (DBK), as captured via Record ID#53574. The credit line was intended to finance projects in the sectors of energy, transport, infrastructure, manufacturing, information technologies, agriculture, and other sectors. The credit line aimed to finance joint Kazakh-Chinese and other projects. The maturity date of each loan made under this loan agreement was June 15, 2025. In June 2015, DBK drew down $200 million from the credit line (as captured via Record ID#53573). The intended use of these funds is unclear. The interest rate was initially 5.7%. The loan's interest rate was changed from fixed to floating in 2016. In 2016, DBK drew down $170 million for unspecified purposes, as captured via Record ID#53572. Then, between December 31, 2016 and June 30, 2017, DBK drew down an additional $80 million for unspecified purposes, leaving the credit line with $200 million remaining, as captured via Record ID#59136.

Staff comments

1. AidData created this project record to capture the drawn down amount not accounted for specific loans, not the entire credit line, which is captured Record ID#53574. There was $200 million remaining in the credit line that had not been drawn down as of June 30, 2017; therefore, $450 million had been drawn down. The $370 million is accounted for via Record ID#53573 and #53572; Record ID#59136 captures the $80 million that was drawn down but has not been connected to a specific project. 2. Because $370 million had been drawn down as of December 31, 2016 and $450 million had been drawn down as of June 30, 2017, the $80 million commitment captured via Record ID#59136 must have been drawn down between those dates in 2017. As such, AidData has coded the commitment year as 2017. 3. The loan's maturity was coded as eight years because the loan was agreed to in early 2017 and reached its final maturity date in June 2025.