Project ID: 136

CITIC Bank provides $43.5 million loan for acquisition of telecommunications equipment from ZTE

Commitment amount

$ 76709347.45

Constant 2017 USD

Summary

Funding agency [Type]

China CITIC Bank [State-owned Commercial Bank]

Recipient

Angola

Sector

Communications (Code: 220)

Flow type

Loan

Concessional

Vague

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2006

Description

In 2006, China CITIC Bank and Dutch ABN AMRO jointly extended an $87 million loan to Angola's Finance Ministry to fund the country's purchase of telecommunications equipment from Chinese state-owned company, ZTE Corporation. CITIC Bank and ABN AMRO each provided $43.5 million. The proceeds of the loan were to be used to partially finance a $102 million commercial contract with ZTE. The implementation status of this project is unknown.

Additional details

This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.In the World Bank’s PPIAF dataset, the corresponding Project ID number is PPIAF-ID:12.

Number of official sources

3

Number of unofficial sources

0

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

ABN AMRO Bank [State-owned Bank]

Receiving agencies [Type]

Government of Angola [Government Agency]

Implementing agencies [Type]

Angola Ministry of Post and Telecommunications (MCT) [Government Agency]; ZTE Corporation [State-owned Company]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No