CDB provides $2.2 million loan for Bishkek Osh-Batken Fiber Optic Network Construction Project (Linked to Project ID#70878, #70881, #70884, and #70886)

On October 16, 2012, China Development Bank (CDB) signed a $2,200,000 loan agreement with KyrgyzTelecom. This loan was intended to be used for the Bishkek Osh-Batken Fiber Optic Network Construction Project. The loan terms are as follows: 5-year maturity, a grace period of 0.5 years, 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 $4 million CDB loan to KyrgyzTelecom in June 2011 (see linked project ID#70884), and a $2 million CDB loan to KyrgyzTelecom in September 2012 (see linked project ID#70886).

Additional details

The 6 month LIBOR in 2012 was .582%. Therefore, the interest rate was coded as .582% + 2.5%, or 3.082%. Project status was coded as completion because all Chinese financing was disbursed; as of January 1, 2016, KyrgyzTelecom had a remaining debt of $759,829.9. The Russian project title is Проект «ВОЛС Бишкек – Ош – Баткен». It appears that KyrgyzTelecom actually received $2,089,532.26 on October 24, 2012 (see pg.24 of "KyrgyzTelecom Financial Report 2012"). Coders inferred that the difference between the agreement amount and the disbursement amount may caused by losses from currency exchange.

Number of official sources

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Number of total sources

2