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China Development Bank provides $40 million loan to Agrobank for Chinese-Uzbek economic cooperation purposes
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Uzbekistan Agrobank |
| Country | Uzbekistan |
| Start Date | Jan 16, 2020 |
| End Date | Jun 22, 2031 |
| Duration | 4,175 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95739 |
Grant Description
China Development Bank provides $40 million loan to Agrobank for Chinese-Uzbek economic cooperation purposes On January 16, 2020, China Development Bank (CDB) signed a $40 million loan agreement with Joint-Stock Commercial Bank “Agrobank” (a state-owned commercial bank in Uzbekistan).
The purpose of this loan was to encourage economic cooperation between Chinese manufacturers and entrepreneurs in Uzbekistan, as well as establishing a line of credit in order to finance projects involving Chinese contractors. A signing ceremony was held for the loan agreement.
Feng Zhe, the Director of the CDB Working Group , Wang Shaonan, a CDB Project Manager, and Shukhrat Mirzavev, the Deputy Chairman of the Board of Agrobank, all attended the ceremony.
As of December 31, 2021, Agrobank was determined to in technical breach of the loan agreement with CDB with respect to the non-performing loan (NPL) ratio.
Agrobank then further assessed the terms of the CDB loan agreement and engaged with CDB to discuss the issue as a result of which the Agrobank and CDB concluded that that Agrobank was in fact not in breach of the NPL ratio.
Sources & References
- Agrobank signs an agreement with State Development Bank of China
- Uzbek Agrobank signs loan agreement with China Development Bank
- Uzbekistan’s JSCB Agrobank signs $40m loan agreement with China
- Agrobank signs an agreement with State Development Bank of China
- Agrobank and ICBC sign framework agreement on cooperation development
- Agrobank signs an agreement with State Development Bank of China
- Uzbek Agrobank signs loan agreement with China Development Bank
- JSCB Agrobank signs a loan agreement with CDB for $40 million
- Uzbekistan's Banking System Ownership Concentration and the Ongoing Privatization Process, financial statements 2020, financial statements 2021, financial statements 2022 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
Uzbekistan Agrobank
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