China Development Bank provides RMB 60 million export credit to State Savings Bank of Tajikistan (Amonatbonk) for on-lending to Tajik entrepreneurs
Commitment amount
$ 9817200.924309662
Adjusted commitment amount
$ 9817200.92
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Tajikistan
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
In 2017, China Development Bank (CDB) visited State Savings Bank of Tajikistan (Amonatbonk) to discuss a possible RMB 60 million long-term loan agreement. CDB and Amonatbonk concluded a preliminary agreement at the beginning of 2018. The final agreement was still waiting to be signed as of August 2018. Then, in 2019, China Development Bank and Amonatbonk signed an RMB 60 million preferential export credit agreement. The proceeds of the CDB loan were to be used by Amonatbonk for on-lending to Tajik entrepreneurs at an annual interest rate of 12% with 3-5 year maturities. Some sources also indicate that the CDB loan proceeds were to be used for import substitution and to facilitate the acquisition of Chinese production and technological equipment.
Additional details
1. Some sources indicate that Amonatbank sought another $10 million CDB loan in 2019. This issue warrants further investigation.
Number of official sources
8
Number of total sources
17
Details
Cofinanced
No
Direct receiving agencies [Type]
State Savings Bank of Tajikistan (Amonatbonk) [State-owned Bank]
Loan Details
Interest rate
12.0%