Active Mixed AidData Chinese Aid

China Development Bank provides $100 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending purposes

$100M USD

Funder	China Development Bank (CDB)
Recipient Organization	National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
Country	Uzbekistan
Start Date	Jul 18, 2013
End Date	Sep 17, 2029
Duration	5,905 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`40231`

Grant Description

China Development Bank provides $100 million loan to National Bank for Foreign Economic Activity of Uzbekistan for on-lending purposes On July 18, 2013, China Development Bank (CDB) and the National Bank for Foreign Economic Activity of Uzbekistan (NBU) signed a $100 million credit facility agreement for on-lending purposes and to encourage small enterprise and entrepreneurship development in Uzbekistan.

As of 2015, NBU had drawn down $51.9 million under this facility to support 42 projects (via on-lending).

NBU issued credits for up to 8-years and to finance up to 85% of the cost of import contracts for supplying technological equipment and corresponding maintenance of goods and services. Supplies through the contracts were to be of no less than 50% Chinese origin.

📋 Staff Comments

1. The loan commitment date is identified via https://nbu.uz/upload/iblock/654/nbu_annual_report_2015_uzb.pdf2. No sources explicitly indicated that this was a buyer's credit loan. AidData assumes this is the case for the following reasons: (1) the loan is provided to a foreign borrower, (2) the loan is denominated in USD, (3) the face value of the loan is explicitly identified in multiple official sources, (4) the loan proceeds were to be used to finance up to 85% of the cost of commercial contracts, and (5) supplies through the commercial contracts were to be of no less than 50% Chinese origin.

📚 Sources & References

China,Uzbekistan : NBU to secure $100M from CDB
UZBEKISTAN: China Development Bank gives US $ 100 mln to NBU
China Development Bank allocates $100 million to National Bank of Uzbekistan
China plans to finance agro projects in Uzbekistan, Ўзбекистон Республикаси Ташқи иқтисодий фаолият миллий банкининг 2015 йилдаги фаолияти тўғрисида ҲИСОБОТИ 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.