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Bank of China Kazakhstan provides KZT 13 billion loan to Kazakhtelecom JSC (Linked to Record ID#192004)
| Funder | JSC AB Bank of China Kazakhstan |
|---|---|
| Recipient Organization | Kazakhtelecom JSC |
| Country | Kazakhstan |
| Start Date | Jun 01, 2023 |
| End Date | Jan 22, 2032 |
| Duration | 3,157 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108983 |
Grant Description
Bank of China Kazakhstan provides KZT 13 billion loan to Kazakhtelecom JSC In June 2023, Kazakhtelecom JSC -- Kazakhstan's largest fixed-line telecommunication operator, which is 51% owned by Kazakhstani state-owned National Welfare Fund Samruk-Kazyna -- borrowed KZT 13,000,000,000 from a credit line agreement (see Record ID#192004) with JSC AB Bank of China Kazakhstan.
The borrowing carried an interest rate equal to the base rate of the National Bank of the Republic of Kazakhstan (effective on the date of issue of the loan) plus a 0.5% margin (per annum), with the effective interest rate reported as 17.8%. The loan's final maturity date was set to February 23, 2026.
Between January 1, 2023 and June 30, 2024, Kazakhtelecom JSC made a principal payment worth KZT 2,000,000,000 and an interest payment worth KZT 1,177,998,000.
Staff Comments
1. The maturity has been estimated as 2.735-years, considering the estimated commitment date of June 1, 2023, and the final maturity date of February 23, 2026.
Sources & References
Kazakhtelecom JSC Interim condensed consolidated financial statements (unaudited) Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Kazakhtelecom JSC
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