Project ID: 71500

CDB provides $30 million loan to UzbekNefteGaz for the purchase of high-tech oil exploration and prospecting equipment

Commitment amount

$ 34570144.71062921

Adjusted commitment amount

$ 34570144.71

Constant 2021 USD

Summary

Funding agency [Type]

China Development Bank (CDB) [State-owned Policy Bank]

Recipient

Uzbekistan

Sector

Energy (Code: 230)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-01-01

Description

In 2017, China Development Bank (CDB) issued a $30 million loan to UzbekNefteGaz — a state-owned oil and gas company in Uzbekistan — for the purchase of high-tech oil exploration and prospecting equipment. The loan carried an interest rate of 5% and a maturity length of 5 years. Its final maturity date was December 2021. The borrower was to use the proceeds of the loan to finance a commercial (equipment supply) contract with China National Petroleum Corporation (CNPC). The purpose of this project was to improve UzbekNefteGaz’s proven oil reserves map and define geographic areas with high potential for further oil development activities.

Additional details

1. This CDB loan is not included in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.

Number of official sources

3

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Uzbekneftegaz [State-owned Company]

Implementing agencies [Type]

China National Petroleum Corporation (CNPC) [State-owned Company]

Loan Details

Maturity

5 years

Interest rate

5.0%

Grant element (OECD Grant-Equiv)

4.1226%

Bilateral loan

Investment project loan