Overview

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

Commitments (Constant USD, 2023)$2,384,399

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: Oct 16, 2012

Start (actual): Oct 24, 2012

End (actual): Oct 24, 2012

First repayment (originally scheduled): Jul 1, 2012

Last repayment (originally scheduled): Dec 30, 2016

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

Loading map…

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 (see pg.18 of "KyrgyzTelecom Financial Report 2015"). 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 $2.2 million loan for Bishkek Osh-Batken Fiber Optic Network Construction Project

Grace period•0.5 yearsGrant element•15.2909%Interest rate (t₀)•3.0784%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•5 years

Narrative

Full Description

Project narrative

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 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 million CDB loan to KyrgyzTelecom in September 2012 (see linked Record ID#70886).

Staff comments

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.