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CDB provides $100 million loan to Development Bank of Kazakhstan for on-lending activities in December 2008 (Linked to Record ID#40164, #40234)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Development Bank of Kazakhstan JSC (Baiterek or DBK) |
| Country | Kazakhstan |
| Start Date | Dec 22, 2008 |
| End Date | Feb 26, 2030 |
| Duration | 7,736 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 53545 |
Grant Description
This loan is captured via Record ID#40164.
This loan is captured via Record ID#53545.
This loan is captured via Record ID#40234.
The proceeds of these three loans were to be used by the borrower to engage in on-lending activities and support long-term infrastructure projects in energy, transport and communication sectors, as well as chemical and petrochemical, and metallurgical industries. Under all three loan agreements, principal and interest is paid semi-annually.
The CDB loan agreements contain covenants requiring DBK, inter alia, to comply with applicable FMSA capital adequacy ratios and to maintain a debt to equity ratio of 6:1. DBK obtained a waiver of the debt to equity ratio requirement for the year 2017.
As of June 30, 2017, the aggregate principal amount outstanding under these three loans was $63.0 million and DBK had a Basel II capital adequacy ratio of 18.65%.
Staff Comments
1. This CDB loan is not included in the China’s Overseas Development Finance Dataset published by Boston University's Global Development Policy Center.
Sources & References
- China and Kazakhstan: Economic Hierarchy
- Dependency and Political Power
- China Development Bank to increase line of credit for Kazakh’s Bank
- MONTHLY FINANCE SURVEY
- China Development Bank to increase line of credit by $300 million
- China Development Bank ups credit facility for Kazakh Development Bank by $300 mln, 2012 Bond Prospectus, ОБЪЕКТТІ ҚАРАУ
- Development Bank of Kazakhstan Base Prospectus 2012
- Development Bank of Kazakhstan Base Prospectus 2017
- Development Bank of Kazakhstan Base Prospectus 2018
- Development Plan (План развития) 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
Development Bank of Kazakhstan JSC (Baiterek or DBK)
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