China Eximbank provide $10.7 million loan for ICT in Rural Areas Project
Commitment amount
$ 16105873.506444803
Adjusted commitment amount
$ 16105873.51
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Uzbekistan
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Additional details
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.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) [State-owned Bank]
Implementing agencies [Type]
ZTE Corporation [State-owned Company]
Huawei Technologies Co., Ltd. [Private Sector]
Uztelecom JSC [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
2.5%
Grace period
5 years
Grant element (OECD Grant-Equiv)
45.3725%