Narrative
Full Description
Project narrative
On August 14, 2007, China Development Bank (CDB) signed a loan agreement extending a $60 million USD loan to the Uzbekistan National Bank for Foreign Economic Affairs (NBU) to support large and medium-sized development projects and small and medium-sized Uzbek enterprises. More specifically, the agreement stipulated that this loan would finance at least 50% of the commercial contract costs with Chinese firms providing equipment. Disbursements would occur over a 12-year period. The borrowing terms included a 2.5-year grace period but the maturity and interest rate are unknown. The Government of Uzbekistan did not provide a sovereign guarantee for this loan facility. This credit line was supposed to finance the following sub-projects: - The acquisition of mini-technologies and compact equipment for the deep processing of fruits and vegetables - Livestock and other agricultural products - The creation of modern localizing industries with deep processing of local raw materials; production of building materials, including the development of new types of production - Production of finished consumer goods for food and non-food purposes; development of services and services, including tourism - To provide loans ranging from $100,000 USD to $1 million USD to small Uzbek businesses and private entrepreneurs for up to 7 years. It is unclear whether CDB ever disbursed any funds or if any of these sub-projects ever entered implementation.