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Overview

Altyn Bank JSC provides $3 million USD to a syndicated loan to Uzbekistan Qishloq Qurilish Bank for general corporate purposes

Commitments (Constant USD, 2023)$3,113,962
Commitment Year•2019Country of Activity•UzbekistanDirect Recipient Country of Incorporation•UzbekistanOverseas Jurisdiction•KazakhstanSector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jul 25, 2019
Last repayment (originally scheduled)
Jul 24, 2020

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 Commercial Banks

  • Altyn Bank JSC

Cofinancing agencies

Private Sector

  • ACB Alef-Bank AO
  • Asia-Pacific Bank, OJSC (APB)
  • J&T Bank ZAO
  • Uralsib

State-owned Banks

  • Promsvyazbank (PSB)
  • Transcapitalbank

Receiving agencies

State-owned Banks

  • Uzbekistan Qishloq Qurilish Bank

Loan description

Altyn Bank JSC contribution to $3.5 million USD to a syndicated loan to Uzbekistan Qishloq Qurilish Bank for general corporate purposes

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

On July 25, 2019, a syndicated of banks, including Altyn Bank JSC (a subsidiary of China CITIC Bank Corporation Ltd in Kazakhstan), signed a syndicated dual currency loan for the Qishloq Qurilish Bank JSCB (Republic of Uzbekistan) valued at €16 million EUR and $3.5 million USD. Asian Pacific. Asian Pacific Bank and Altyn Bank organized the facility; APB provided €3 million EUR and Altyn Bank provided $3 million USD. Other syndicate members included Promsvyazbank, Transcapitalbank, URALSIB BANK, J&T Bank, and ALEF-Bank. The facility was provided to the borrower for a period of up to one year for general corporate purposes, as well as for financing trade contracts of the borrower's customers related to supply of goods, equipment, and services from Russia and elsewhere abroad.