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Overview

CDB provides $3.1 million credit line facility to RSK Bank OJSC for on-lending to SMEs, trade, and infrastructure (Linked to Record ID#70924, #70938, #70935, #70934, and #70946)

Commitments (Constant USD, 2023)$3,523,141
Commitment Year•2011Country of Activity•Kyrgyz RepublicDirect Recipient Country of Incorporation•Kyrgyz RepublicSector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 21, 2011
Last repayment (originally scheduled)
Apr 18, 2019

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 Banks

  • RSK Bank OJSC

Implementing agencies

State-owned Banks

  • RSK Bank OJSC

Loan desecription

CDB provides $3.1 million credit line facility to RSK Bank OJSC for on-lending to SMEs, trade, and infrastructure

Grant element•15.1099%Interest rate (t₀)•4.95469%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•8.3 years

Narrative

Full Description

Project narrative

On January 21, 2011, China Development Bank (CDB) signed $3,100,000 credit line facility with RSK Bank OJSC. This loan was intended to be used for for various on-lending activities, including the development of small and medium size enterprises, trade and commerce between Chinese and Kyrgyz entrepreneurs, and the construction and rehabilitation of infrastructure in the Southern cities and regions of the Kyrgyz Republic. The loan carried the following borrowing terms: a maturity of 8 years and 3 months (the exact maturity period was April 22, 2019) and an interest rate of 6 month LIBOR plus a 4.5% margin. By December 31, 2013, $3,100,000 had been drawn down from the credit line.

Staff comments

1. Average 6 month LIBOR in 2012 was .455%. Therefore, the all-in interest rate was coded as .455% + 4.5%, or 4.955%. 2. The project status was coded as "Implementation" because $3.1 million had been drawn down. 3. For precision, the maturity was based on the number of days between the signing date and the maturity date (3,013) divided by 365, or 8.3 approximately. 4. This project is linked with a RMB 2,255,000 credit line facility from CDB also signed on January 21, 2011 (see linked Record ID#70938), and a $8 million credit line facility from CDB signed on June 7, 2012 (see linked Record ID#70924), a RMB 1,754,041 credit line facility from CDB also signed on June 7, 2012 (see linked Record ID#70946), a RMB 2,255,000 credit line facility from CDB signed on January 21, 2011 (see linked Record ID#70938), a $900,000 credit line facility from CDB signed on August 13, 2007 (see linked Record ID#70935), and a $2.5 million credit line facility from CDB signed on August 28, 2008 (see linked Record ID#70934).