CDB provides $4 million loan for Osh-Irkeshtam Fiber Optic Network Construction Project (Linked to Project ID#70878, #70881, #70886, and #70889)

On June 27, 2011, China Development Bank (CDB) signed a $4,000,000 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 6-year maturity, a grace period of 0.5 years, and an interest rate of 6 month LIBOR + 2.5% margin. This project is linked to a $8.7 million CDB loan to KyrgyzTelecom in September 2009 for this project (see linked project ID#70878), a $4.9 million CDB loan to KyrgyzTelecom in February 2011 for this project (see linked project ID#70881), a $2 million CDB loan to KyrgyzTelecom in September 2012 (see linked project ID#70886), and a $2.2 million CDB loan to KyrgyzTelecom in October 2012 (see linked project ID#70889).

Additional details

The 6 month LIBOR in 2011 was .398%. Therefore, the interest rate was coded as .398% + 2.5%, or 2.898%. Project status was coded as completion because all Chinese financing was disbursed; as of January 1, 2016, KyrgyzTelecom had a remaining debt of $2,174,756.6. The Russian project title is Проект «Цифровое будущее. Фаза «Региональные сети» «Строительство ВОЛС «Ош – Иркештам». According to KyrgyzTelecom Financial Report 2011, the $4 million loan was signed on June 27, 2011 had a maturity period of 12 years, a grace period of 1.5 years, and an interest rate of 6 month LIBOR + 2.5%. $1,358,520.44 had been received by December 31, 2011. According to KyrgyzTelecom Financial Report 2012, the $4 million loan was signed on June 27, 2011 had a maturity period of 12 years, a grace period of 1.5 years, and an interest rate of 6 month LIBOR + 1.8%. $1,358,520.44 had been actually received, and throughout 2012, it appears that a combined $2,985,409.57 was retrieved.

Number of official sources

3

Number of total sources

3