Project ID: 95113

China Eximbank provides deferral deal to Kyrgyzstan to postpone USD $35 million loan repayments to 2022-2024

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

Recipient

Kyrgyzstan

Sector

Action relating to debt (Code: 600)

Flow type

Debt rescheduling

Level of public liability

Central government debt

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

Vague (Official Finance) (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2020-11-01

Description

In November of 2020, China Eximbank provided Kyrgyzstan with a deferral deal to postpone USD $35 million loan repayments to 2022-2024. This agreement required a 2% fee of the deferred amount. It is possible that China Eximbank required Kyrgyzstan to pay interest during the deferral period, due to most of China Eximbank's loans having fixed interest rates of 2%, but confirmation of this requirement is not available. The $35 million payment is for the USD $1.8 billion loans taken for projects linked to China's Belt and Road Initiative. This agreement is waiting for approval from Kyrgyzstan’s Parliament.

Additional details

1. No transaction (financial commitment) amount is recorded to avoid any double counting with previous loan commitments to Kyrgyzstan.

Number of official sources

1

Number of total sources

6

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Kyrgyzstan [Government Agency]

Loan Details

Interest rate

2.0%