Active Development AidData Chinese Aid

CDB provides $80 million through $650 million credit line to the Development Bank of Kazakhstan (Linked to Record ID#53574, #53572, and #53573)

$80M USD

Funder	China Development Bank (CDB)
Recipient Organization	Development Bank of Kazakhstan JSC (Baiterek or DBK)
Country	Kazakhstan
Start Date	Jun 01, 2017
End Date	Nov 24, 2033
Duration	6,020 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59136`

Grant Description

CDB provides $80 million through $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

AidData created this project record to capture the drawn down amount not accounted for specific loans, not the entire credit line, which is captured Project ID#53574. There was $200 million remaining in the credit line that had not been drawn down as of June 30, 2017; therefore, $450 million had been drawn down. The $370 million is accounted for via Project ID#53573 and #53572; Project ID#59136 captures the $80 million that was drawn down but has not been connected to a specific project.
Because $370 million had been drawn down as of December 31, 2016 and $450 million had been drawn down as of June 30, 2017, the $80 million commitment captured via Project ID#59136 must have been drawn down between those dates in 2017. As such, AidData has coded the commitment year as 2017.
The loan's maturity was coded as eight years because the loan was agreed to in early 2017 and reached its final maturity date in June 2025.

📚 Sources & References

BoP and External Debts 2016
Development Bank of Kazakhstan Base Prospectus 2017
DBK 2015 Annual Report 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.