Skip to content
AidData logo

Overview

CDB provides $8.7 million loan for Osh-Irkeshtam Fiber Optic Network Construction Project (Linked to Record ID#70881, #70884, #70886, and #70889)

Commitments (Constant USD, 2023)$12,069,665
Commitment Year•2009Country 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
Sep 28, 2009
First repayment (originally scheduled)
Jul 2, 2010
Last repayment (originally scheduled)
Dec 30, 2016

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

On September 28, 2009, China Development Bank (CDB) signed a $8,700,000 loan agreement with KyrgyzTelecom. This loan was intended to be used for the Osh Irkeshtam Fiber Optic Network Construction Project. The loan carried the following terms: a 8-year maturity, grace period of 1.5 years, and an interest rate of 6 month LIBOR + 1.8% margin (see pg.17 of "KyrgyzTelecom Financial Report 2015"). This project is supporting the laying of fiber optic cable between Osh and Irkeshtam.. For more detailed location information: https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=40.5362%2C72.8034%3B39.6787%2C73.8988#map=9/40.0786/73.3503

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 $8.7 million loan for Osh-Irkeshtam Fiber Optic Network Construction Project

Grace period•1.5 yearsGrant element•26.4292%Interest rate (t₀)•2.43875%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•8 years

Narrative

Full Description

Project narrative

On September 28, 2009, China Development Bank (CDB) signed a $8,700,000 loan agreement with KyrgyzTelecom. This loan was intended to be used for the Osh Irkeshtam Fiber Optic Network Construction Project. The loan carried the following borrowing terms: a 8-year maturity, a grace period of 1.5 years, and an interest rate of 6 month LIBOR plus a 1.8% margin. Its principal amount outstanding was $2,174,756.60 as of January 1, 2016.

Staff comments

1. Average 6 month LIBOR in 2009 was .677%. Therefore, the all-in interest rate was coded as .677% + 1.8%, or 2.477%. 2. Project status was coded as completion because all Chinese financing was disbursed. 3. The Russian project title is Проект «Цифровое будущее. Фаза «Региональные сети» «Строительство ВОЛС «Ош – Иркештам». 4. According to 2010, 2011, and 2012 KyrgyzTelecom Financial Reports, the actual amount received from the loan was $8,699,026.3. 5. This project is linked to a $4.9 million CDB loan to KyrgyzTelecom in February 2011 for this project (see linked Record ID#70881), a $4 million CDB loan to KyrgyzTelecom in June 2011 (see linked Record ID#70884), a $2 million CDB loan to KyrgyzTelecom in September 2012 (see linked Record ID#70886), and a $2.2 million CDB loan to KyrgyzTelecom in October 2012 (see linked Record ID#70889).