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Overview

CDB provides $900,000 credit line facility to RSK Bank OJSC for on-lending to SMEs, trade, and infrastructure (Linked to Record ID#70924, #70938, #70946, #70934, and #70929)

Commitments (Constant USD, 2023)$1,495,408
Commitment Year•2007Country 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 1, 2007
Start (actual)
Aug 13, 2007
Last repayment (originally scheduled)
Apr 20, 2015

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 description

CDB provides $900,000 credit line facility to RSK Bank OJSC for on-lending to SMEs, trade, and infrastructure

Grant element•8.5745%Interest rate (t₀)•6.87%Interest type•Variable Interest RateLoan tenor•6-month rateMaturity•7.7 years

Narrative

Full Description

Project narrative

On August 13, 2007, China Development Bank (CDB) signed a $900,000 credit line facility agreement with RSK Bank OJSC. This loan was intended to be used 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 terms: a maturity period of 7 years and 7 months (final maturity date: April 20, 2015) and an interest rate of 6 month LIBOR + a 1.5% margin. By December 31, 2013, $900,000 had been drawn down from the credit line.

Staff comments

1. Average 6 month LIBOR in 2007 was 5.376%. Therefore, the all-in interest rate was coded as 5.376% + 1.5%, or 6.876%. 2. The project status was coded as "Implementation" because $900,000 had been drawn down. 3. For precision, the maturity was based on the number of days between the signing date and the maturity date (2,807) divided by 365, or 7.7 years approximately. 4. This project is linked with 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 $3.1 million credit line facility also signed on January 21, 2011 (see linked Record ID#70929), and a $2.5 million credit line facility from CDB signed on August 28, 2008 (see linked Record ID#70934).