CITIC Bank provides $43.5 million loan for acquisition of telecommunications equipment from ZTE
Constant 2017 USD
Funding agency [Type]
China CITIC Bank [State-owned Commercial Bank]
Communications (Code: 220)
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.
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
Number of unofficial sources
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]