CDB provides $9.3 million loan for CDMA-450 Wireless Access Network Project
Commitment amount
$ 14232421.219593316
Adjusted commitment amount
$ 14232421.22
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Kyrgyzstan
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
5
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
KyrgyzTelecom [State-owned Company]
Implementing agencies [Type]
KyrgyzTelecom [State-owned Company]
Loan Details
Maturity
8 years
Interest rate
4.904%
Grace period
2 years
Grant element (OECD Grant-Equiv)
14.439%