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Bank of China Kazakhstan provides KZT 6.5 billion loan to Kazakhtelecom for unspecified purposes in 2019
| Funder | JSC AB Bank of China Kazakhstan |
|---|---|
| Recipient Organization | Kazakhtelecom JSC |
| Country | Kazakhstan |
| Start Date | Jan 01, 2019 |
| End Date | May 06, 2029 |
| Duration | 3,778 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 96104 |
Grant Description
Bank of China Kazakhstan provides KZT 6.5 billion loan to Kazakhtelecom for unspecified purposes in 2019 In 2019, Kazakhtelecom JSC - Kazakhstan's largest fixed-line telecommunication operator, which is 51% owned by Kazakhstani state-owned National Welfare Fund Samruk-Kazyna - signed a KZT 6,500,000,000 loan agreement (as part of a large line of credit arrangement) with Bank of China Kazakhstan JSC for unspecified purposes (Captured via #96104).
Then, on March 16, 2020, Kazakhtelecom JSC signed a KZT 4,500,000,000 loan agreement (as part of a large line of credit arrangement) with Bank of China Kazakhstan JSC for unspecified purposes (captured via #96064).
Then, on October 14, 2020, the parties signed an addendum to the loan agreement, reducing the interest rate from 10.5% to 10.3% (captured via #96103).
Then, on June 2, 2021, Kazakhtelecom JSC obtained additional loan tranche worth KZT 2,000,000,000 (with the same final maturity date) from Bank of China JSC as part of the same line of credit agreement.
Kazakhtelecom JSC made interest payments worth KZT 571,364,000 between January 1, 2021 and June 30, 2021 and KTZ 675,508,000 between January 1, 2022 and June 30, 2022.
Staff Comments
1. The loan terms are unknown, but it is known that the repayment period is 36 months. For the time being, AidData assumes there is no grace period and codes the maturity as the entirety of the repayment period.
Sources & References
- NOTES TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
- Kazakhtelecom JSC Consolidated financial statements 2019
- Kazakhtelecom JSC Interim condensed consolidated financial statements (unaudited) 2021
- Kazachtelecom JSC Interim condensed consolidated financial statements (unaudited) 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
Kazakhtelecom JSC
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