CDB provides $4.9 million loan for Osh-Irkeshtam Fiber Optic Network Construction Project (Linked to Record ID#70878, #70884, #70886, and #70889)

📋 Staff Comments

1. 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.
2. Project status was coded as completion because all Chinese financing was disbursed.
3. The Russian project title is Проект «Цифровое будущее. Фаза «Региональные сети» «Строительство ВОЛС «Ош – Иркештам» (see pg.17 of 'KyrgyzTelecom Financial Report 2015').
4. According to KyrgyzTelecom Financial Report 2011, the $4,964,729.28 loan agreement signed on February 17, 2011 had a maturity of 12-years, a grace period of 1.5-years, and an interest rate of 6 month LIBOR + 1.8%. Only $4,963,221.45 had been received by December 31, 2011, however it reported an exchange rate difference profit of KGS 2,491,428,72 (see pg.35-36 of 'KyrgyzTelecom Financial Report 2011'). According to KyrgyzTelecom Financial Report 2012, the $4,964,729.28 loan signed on February 17, 2011 had a maturity of 12-years, a grace period of 1.5-years, and an interest rate of 6 month LIBOR + 1.8%. $4,963,221.45 had been actually received. It reported an exchange rate difference loss of KGS 181,141.83 (see pg.22-23 of 'KyrgyzTelecom Financial Report 2012'). However, according to KyrgyzTelecom Financial Report 2015, the $4,964,729.28 loan had a maturity of 6-years, a grace period of 0.5-years.
5. This project is linked to a $8.7 million CDB loan to KyrgyzTelecom in September 2009 for this project (see linked project ID#70878), a $4 million CDB loan to KyrgyzTelecom in June 2011 (see linked project ID#70884), a $2 million CDB loan to KyrgyzTelecom in September 2012 (see linked project ID#70886), and a $2.2 million CDB loan to KyrgyzTelecom in October 2012 (see linked project ID#70889).

📚 Sources & References

• KyrgyzTelecom Financial Report 2015
• KyrgyzTelecom Financial Report 2012
• KyrgyzTelecom Financial Report 2011 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.