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Overview

CDB provides $2 million loan for Bishkek Osh-Batken Fiber Optic Network Construction Project (Linked to Record ID#70878, #70881, #70884, and #70889)

Commitments (Constant USD, 2023)$2,167,636
Commitment Year•2012Country 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 25, 2012
First repayment (originally scheduled)
Jul 1, 2012
Last repayment (originally scheduled)
Sep 24, 2018

Geospatial footprint

Map overview

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In September, 2012, China Development Bank (CDB) signed a $2,000,000 loan agreement with KyrgyzTelecom. This loan was intended to be used for the Bishkek Osh-Batken Fiber Optic Network Construction Project. The loan carried the following terms: a 5-year maturity, a grace period of 0.5 years, and an interest rate of 6 month LIBOR + 2.5% margin (see pg.18 of "KyrgyzTelecom Financial Report 2015"). This project is supporting the laying of fiber optic cable between Bishkek, Osh and Batken. For more detailed location information: https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=40.5362%2C72.8034%3B42.8778%2C74.6067#map=7/41.402/74.927 and https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=40.536%2C72.803%3B39.866%2C71.575#map=10/40.3108/72.2172 and https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=42.8778%2C74.6067%3B39.8661%2C71.5750#map=8/41.400/73.120

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 $2 million loan for Bishkek Osh-Batken Fiber Optic Network Construction Project

Grace period•0.5 yearsGrant element•17.3783%Interest rate (t₀)•3.14565%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•6 years

Narrative

Full Description

Project narrative

In September, 2012, China Development Bank (CDB) signed a $2,000,000 loan agreement with KyrgyzTelecom. This loan was intended to be used for the Bishkek Osh-Batken Fiber Optic Network Construction Project. The loan carried the following borrowing terms: a 5-year maturity, a grace period of 0.5 years, and an interest rate of 6 month LIBOR plus a 2.5% margin. Its principal amount outstanding as of January 1, 2016 was $642,378.30.

Staff comments

1. Average 6 month LIBOR in 2012 was .672%. Therefore, the all-in interest rate was coded as .672% + 2.5%, or 3.172%. 2. Project status has been coded as completion because all Chinese financing was disbursed. 3. The Russian project title is Проект «ВОЛС Бишкек – Ош – Баткен». 4. It appears that KyrgyzTelecom actually received $1,766,540.38 on February 2, 2012 (before the loan was signed; this date was reported by KyrgyzTelecom), The lower disbursement amount may have even caused by currency exchange losses (see pg.23 of "KyrgyzTelecom Financial Report 2012"). 5. The 2015 report states that the loan agreement signing date was September 29, 2012, but the 2012 report states September 25, 2012. 6. This project is linked to a $8.7 million CDB loan to KyrgyzTelecom in September 2009 for this project (see linked Record ID#70878), 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), and a $2.2 million CDB loan to KyrgyzTelecom in October 2012 (see linked Record ID#70889).