Active Development AidData Chinese Aid

China Eximbank provides a RMB 122 million loan for the acquisition of excavators, bulldozers and dredgers (Linked to Record ID#39957)

¥122M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
Country	Uzbekistan
Start Date	Jul 18, 2005
End Date	Nov 25, 2031
Duration	9,626 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72162`

Grant Description

China Eximbank provides a RMB 122 million loan for the acquisition of excavators, bulldozers and dredgers On June 15, 2004, the Export-Import Bank of China signed an agreement to provide a RMB 300 million concessional loan to the Republic of Uzbekistan for various projects (captured in #39957).

Then, on July 18, 2005, China Eximbank signed a RMB 122 million ($14.8 million USD) concessional loan agreement with the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) for the acquisition of excavators, bulldozers and dredgers.

NBU on-lent the proceeds of the loan to Uzbekistan's Ministry of Agriculture and Water Resources, which also served as the executive agency responsible for project implementation.

📋 Loan / Grant Terms

💰 Loan Amountcarried the following terms: 20 year maturity (final maturity in the first half of 2025)

📅 Maturity20 years

⏳ Grace Period5 years

💹 Interest Rate2%

Repayments were to be made in U.S. dollars at the current change rate of USD to Chinese yuan the day of each repayment.

The President of Uzbekistan authorized the Ministry of Finance to, after implementing its prescribed procedure, issue a guarantee from the Government of Uzbekistan to China Eximbank on behalf of the payment obligations of NBU and a guarantee to NBU on the payment obligations of the Ministry of Agriculture and Water Resources.

This project sought to finance the acquisition of 78 excavators, 11 bulldozers, and six dredgers, as well as the purchase of spare parts and initial training for the vehicles, in order to increase the supply of irrigated water in the Republic of Karakalpakstan and the Khwarazm (Khorezm) region.

The contractor responsible for project implementation was China National Machinery and Equipment Import and Export Corporation

📋 Staff Comments

The Russian name of this project is Приобретение экскаваторов, бульдозеров и земснарядов для мелиоративного улучшения и повышения водообеспеченности орошаемых земель Республики Каракалпакстан и Хорезмской области.
It is unclear whether a guarantee was ever finalized and issued by Uzbekistan's Ministry of Finance. This issue merits further investigation.

📚 Sources & References

ПОСТАНОВЛЕНИЕ П Р Е З И Д Е Н Т А РЕСПУБЛИКИ УЗБЕКИСТАН 02.12.2005, ПОСТАНОВЛЕНИЕ П Р Е З И Д Е Н Т А РЕСПУБЛИКИ УЗБЕКИСТАН 23.05.2005, О МЕРАХ ПО ИСПОЛЬЗОВАНИЮ СРЕДСТВ, ПРЕДОСТАВЛЯЕМЫХ ПРАВИТЕЛЬСТВОМ КИТАЙСКОЙ НАРОДНОЙ РЕСПУБЛИКИ
The state debt of the Republic of Uzbekistan 2020 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.