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CDB provides $650 million loan to Kazakhstan Development Bank for on-lending purposes and joint Kazakh-Chinese projects
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Development Bank of Kazakhstan JSC (Baiterek or DBK) |
| Country | Kazakhstan |
| Start Date | Mar 27, 2017 |
| End Date | Jun 17, 2026 |
| Duration | 3,369 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 59132 |
Grant Description
CDB provides $650 million loan to Kazakhstan Development Bank for on-lending purposes and joint Kazakh-Chinese projects On March 27, 2017, China Development Bank entered into a facility (loan) agreement worth $650 million with the Development Bank of Kazakhstan for on-lending to customers and use in joint Kazakh-Chinese projects in the transportation, infrastructure, and communication sectors.
The loan matures on June 15, 2025 and has an interest rate of 2.7% per annum plus LIBOR.
The aggregate principal amount outstanding under the agreement was $170 million as of June 30, 2017 and $198 million as of December 31, 2020. The loan was prepaid in full in November 2021.
Staff Comments
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
- This March 2017 loan agreement is not a duplicate of the March 2015 loan agreement (with the same face value) that is captured via Project ID#53574.
Sources & References
- BoP and External Debts 2016
- Annual Report 2017
- IMPORTANT NOTICE
- Development Bank of Kazakhstan Base Prospectus 2017
- Investment Memorandum, 2020/09/30
- Development Bank of Kazakhstan Base Prospectus 2021
- Development Bank of Kazakhstan Drawdown Information Memorandum 2022
- Investment Memorandum 2017 (ИНВЕСТИЦИОННЫЙ МЕМОРАНДУМ)
- Investment Memorandum, 2017/11/30
- Investment Memorandum, 2019/04/30
- Investment Memorandum, 2020/04/30 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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