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CDB provides $170 million loan via $650 million credit line to the Development Bank of Kazakhstan (Linked to Record ID#53574, #59136, and #53573)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Development Bank of Kazakhstan JSC (Baiterek or DBK) |
| Country | Kazakhstan |
| Start Date | Jan 01, 2016 |
| End Date | Feb 18, 2031 |
| Duration | 5,527 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 53572 |
Grant Description
CDB provides $170 million loan via $650 million credit line to the Development Bank of Kazakhstan On March 17, 2015, China Development Bank (CDB) signed a $650 million credit line agreement with the Development Bank of Kazakhstan JSC (DBK), as captured via Record ID#53574.
The credit line was intended to finance projects in the sectors of energy, transport, infrastructure, manufacturing, information technologies, agriculture, and other sectors. The credit line aimed to finance joint Kazakh-Chinese and other projects. The maturity date of each loan made under this loan agreement was June 15, 2025.
In June 2015, DBK drew down $200 million from the credit line (as captured via Record ID#53573). The intended use of these funds is unclear. The interest rate was initially 5.7%. The loan's interest rate was changed from fixed to floating in 2016. In 2016, DBK drew down $170 million for unspecified purposes, as captured via Record ID#53572.
Then, between December 31, 2016 and June 30, 2017, DBK drew down an additional $80 million for unspecified purposes, leaving the credit line with $200 million remaining, as captured via Record ID#59136.
Staff Comments
1. While the loan's maturity length is unknown, its final maturity date is known, so AidData has assumed that the loan's maturity was 9-years and coded it accordingly.
Sources & References
- BoP and External Debts 2016
- DBK 2016 Annual Report
- Development Bank of Kazakhstan Base Prospectus 2017 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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