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China Development Bank signs 500 million USD framework agreement for development projects (Umbrella project) (Linked to Record ID#72506)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU) |
| Country | Uzbekistan |
| Start Date | Jan 01, 2011 |
| End Date | Aug 08, 2029 |
| Duration | 6,794 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72507 |
Grant Description
China Development Bank signs 500 million USD framework agreement for development projects (Umbrella project) On April 19, 2011 in a ceremony witnessed by President Hu Jintao and President Karimov, China Development Bank Co., Ltd. signed a US$500 million financing framework cooperation agreement with the Uzbek State Bank for Foreign Economic Activities.
This line of credit was provided to promote Chinese companies invest in the Navoi Special Zone, support the development of Uzbek small and medium-sized enterprises, and to support the Uzbekistan Airlines purchase of new aircraft in 2012-2013.
The only confirmed use of this credit line lies with Uzbekistan Airlines, who made a $156 Million USD drawdown the same year to help finance the purchase of four Boeing 767s (see Record ID#72506). Loan details remain unknown.
Sources & References
- CDB to finance purchase of foreign aircrafts by Uzbekistan Airways
- Ambassador Zhang Xiao met with Gao Jian
- Vice President of China Development Bank
- 国家开发银行 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
National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
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