Project ID: 136

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

Commitment amount

$ 88389785.20866661

Adjusted commitment amount

$ 88389785.21

Constant 2021 USD

Summary

Funding agency [Type]

China CITIC Bank Corporation Limited [State-owned Commercial Bank]

Recipient

Angola

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

No

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

2006-01-01

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 total sources

3

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

ABN AMRO Bank [Private Sector]

Direct receiving agencies [Type]

Government of Angola [Government Agency]

Implementing agencies [Type]

ZTE Corporation [State-owned Company]

Angola Ministry of Post and Telecommunications (MCT) [Government Agency]

Loan Details

Bilateral loan

Investment project loan