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
Project lifecycle
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
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%