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

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.

Additional details

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 project ID#70878), a $4.9 million CDB loan to KyrgyzTelecom in February 2011 for this project (see linked project ID#70881), a $4 million CDB loan to KyrgyzTelecom in June 2011 (see linked project ID#70884), and a $2.2 million CDB loan to KyrgyzTelecom in October 2012 (see linked project ID#70889).

Number of official sources

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