Overview

China Eximbank provide $10.7 million loan for ICT in Rural Areas Project

Commitments (Constant USD, 2023)$14,876,042

Commitment Year•2009Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2009

First repayment (originally scheduled): Dec 31, 2013

Last repayment (originally scheduled): Dec 27, 2028

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

State-owned companies

Uztelecom JSC
ZTE Corporation (formerly Zhongxing Telecommunication Equipment Corporation)

Loan description

China Eximbank provide $10.7 million loan for ICT in Rural Areas Project

Grace period•5 yearsGrant element•49.6805%Interest rate (t₀)•2.5%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

In 2009, the Export-Import Bank of China signed a $10,722,880 loan agreement withthe National Bank for Foreign Economic Activity of Uzbekistan for an ICT in Rural Areas Project. The terms of the loan were as follows: 20 year maturity, 5 year grace period. 2.5% interest, 0.3% management fee, and 0.3% commitment fee. The proceeds of the loan were used to support contracts between Uzbektelecom JSC and Huawei Technologies Co., Ltd and ZTE Corporation.

Staff comments

1. The Russian name of this project is "Развитие информационно-коммуникационной структуры АК "Узбектелеком" в сельской местности". 2. Source ID#161206 suggests this loan was actually two separate loans, worth $6.4 million and $4.4 million, issued by China Eximbank. This issue merits further investigation.