Completed Development AidData Chinese Aid

CDB provides RMB 500 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for on-lending purposes

¥500K RMB

Funder	China Development Bank (CDB)
Recipient Organization	National Bank for Foreign Economic Activity of the Republic of Uzbekistan (NBU)
Country	Uzbekistan
Start Date	Aug 26, 2019
End Date	Jul 24, 2033
Duration	5,081 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`86122`

Grant Description

CDB provides RMB 500 million loan to National Bank for Foreign Economic Affairs of the Republic of Uzbekistan for on-lending purposes On August 26, 2019, during the fifth meeting of the Uzbek-Chinese Intergovernmental Cooperation Committee in Beijing, the Xinjiang Branch of China Development Bank and the National Bank for Foreign Economic Affairs of the Republic of Uzbekistan (NBU) signed an RMB 500 million ($71.2) loan (facility) agreement for on-lending purposes.

The agreement envisaged the use of new payment methods in RMB, while payments in RMB would be transferred to the supplier’s bank account directly in China in order to significantly reduce the time needed for payments between the two countries and counter-parties. The RMB 500 million loan fully disbursed on January 16, 2020.

No additional details regarding borrowing terms or repayments, or subsidiary loans/projects were identifiable as of July 2022.

📋 Staff Comments

1. This agreement was the reportedly seventh in a row between NBU and CDB.

📚 Sources & References

NBU and State Development Bank of China sign a loan agreement for 500 million Chinese yuan
乌兹别克斯坦和中国正在转向人民币结算
Uzbekistan increasingly turns to China for development loans
实现“零突破” 人民币境外项目贷款业务成功落地乌兹别克斯坦
The National Bank and the State Development Bank of China have signed an agreement worth 500 million Chinese yuan
THE NATIONAL BANK
Milliy bank va Xitoy davlat taraqqiyot banki 500 million Xitoy yuaniga shartnoma imzoladi
NBU and State Development Bank of China sign a loan agreement for 500 million Chinese yuan
CDB allocates first loan in RMB to Uzbekistan
National Bank of Uzbekistan and China Development Bank sign a loan agreement, Узбекистан и Китай переходят на расчеты в юанях. ГБРК выдал Нацбанку первый юаневый кредит
Financial statements, annual report 2021 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.