Overview

Bank of China (Hungary Branch) contributes to syndicated buyer's credit loan to Telekom Srbija for Phase 3 of Fixed Network ALL-IP Modernization Project (Linked to Record ID#108878)

Commitment Year•2023Country of Activity•SerbiaDirect Recipient Country of Incorporation•SerbiaOverseas Jurisdiction•HungarySector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Oct 17, 2023

Geospatial footprint

Map overview

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This project provides a loan to Telekom Srbija — headquartered in Belgrade — for or Phase 3 of the Fixed Network ALL-IP Modernization Project. More detailed locational information can be found at https://www.openstreetmap.org/relation/8889429.

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

Bank of China (BOC)

Cofinancing agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

Telekom Srbija

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

Loan desecription

China Eximbank and BoC contributions to syndicated BCL for Phase 3 of Fixed Network ALL-IP Modernization Project in Serbia 2023

Interest type•Unknown

Narrative

Full Description

Project narrative

On October 17, 2023, Telekom Srbija (Telekom Srbija a.d. Beograd) — a Serbian state-owned telecommunications company headquartered in Belgrade — and Huawei Technologies Co., Ltd. signed a commercial contract for Phase 3 of the Fixed Network ALL-IP Modernization Project. On the same day, Telekom Srbija signed a buyer's credit loan agreement with the Hungary Branch of Bank of China and China Eximbank for Phase 3 of the project. The face value and borrowing terms of the loan are unknown.

Staff comments

1. This project is also known as Phase 3 of the Telekom Srbija Landline Network Modernization Project. The Chinese project title is 塞尔维亚电信ALL-IP固网现代化三期项目. The Serbian project title is treće faze modernizacije fiksne mreže Telekom Srbija. 2. In 2017, China Eximbank and the Hungary Branch of Bank of China financed Phase 2 of the Fixed Network ALL-IP Modernization Project (captured via Record ID#67014 and #100775). 3. More research is needed to identify the face value and borrowing terms of the loan.