Overview

CDB provides $9.3 million loan for CDMA-450 Wireless Access Network Project

Commitments (Constant USD, 2023)$13,148,224

Commitment Year•2008Country of Activity•Kyrgyz RepublicDirect Recipient Country of Incorporation•Kyrgyz RepublicSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2008

First repayment: Jul 1, 2009

Last repayment: Dec 30, 2015

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 companies

KyrgyzTelecom

Implementing agencies

State-owned companies

KyrgyzTelecom

Loan desecription

CDB provides $9.3 million loan for CDMA-450 Wireless Access Network Project

Grace period•1.5 yearsGrant element•18.2299%Interest rate (t₀)•4.71063%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•8 years

Narrative

Full Description

Project narrative

In June 2008, China Development Bank (CDB) signed a $9,335,270.7 loan agreement with KyrgyzTelecom. This loan was intended to be used for the CDMA-450 Wireless Access Network Project. The loan carried the following terms: a 8-year maturity, a grace period of 1.5 years, and an interest rate of 6 month LIBOR + 1.8% margin. Disbursements under the loan agreement amounted to $9,284,735.3. The loan's principal amount outstanding was $773,727.9 as of 2016.

Staff comments

1. Average 6 month LIBOR in 2008 was 3.104%. Therefore, the all-in interest rate was coded as 3.104% + 1.8%, or 4.904%. 2. Project status was coded as completion because all Chinese financing was disbursed; as of January 1, 2016. 3. The Russian project title is Социальный проект «Построение сети беспроводного доступа CDMA-450». 4. KyrgyzTelecom Financial Report 2015 claims that the loan agreement was signed on June 12, 2008; however, the 2009, 2010, 2011, and 2012 reports all say June 9, 2008.