Overview

ICBC provides a €100 million EUR loan to TIM for unspecified purposes

Commitments (Constant USD, 2023)$99,465,172

Commitment Year•2022Country of Activity•ItalyDirect Recipient Country of Incorporation•ItalySector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Apr 22, 2022

Last repayment (originally scheduled): May 24, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

TIM S.p.A. (formerly Telecom Italia S.p.A.)

Loan description

ICBC provides a €100 million EUR loan to TIM for unspecified purposes

Interest type•UnknownMaturity•1.088 years

Narrative

Full Description

Project narrative

On April 22, 2022, the Industrial and Commercial Bank of China (ICBC) entered into a €100 million EUR bilateral facility agreement with TIM S.p.A. — an Italy-incorporated Italian telecommunications company traded on the Borsana Italiana — for unspecified purposes. The facility carried a maturity period of approximately 1.088 years and a final maturity date of May 24, 2023.