China Eximbank provides 51 million EUR seller's credit to ZTE for the provision and installation of mobile and fixed telecom networks
Commitment amount
$ 137643511.95135254
Adjusted commitment amount
$ 137643511.95
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Central African Republic
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
On April 22, 2005, ZTE signed an EUR 51 million supplier's credit agreement with Société Centrafricaine de Télécommunications (Socatel) — a state-owned telecommunication company — and the Central African Republic’s Ministry of Posts and Telecommunications to supply and install mobile and fixed networks covering all of the Central African Republic. ZTE originally obtained these funds from China Eximbank in the form of a seller's credit. The borrowing terms are unknown. The proceeds from this seller's credit were used to finance 85% of the cost of a 60-million-euro commercial contract between ZTE Corporation and Socatel. The remaining 15% was to be prepaid by Socatel. According to the World Bank, this project did reach completion. However, its precise project start and end dates are unknown.
Additional details
1. The Chinese project title is 中非全国移动通讯网络和固定通讯网络各15万线的供货和安装.
Number of official sources
4
Number of total sources
10
Details
Cofinanced
No
Direct receiving agencies [Type]
ZTE Corporation [State-owned Company]
Indirect receiving agencies [Type]
Société Centrafricaine de Télécommunications (Socatel) [State-owned Company]
Implementing agencies [Type]
Société Centrafricaine de Télécommunications (Socatel) [State-owned Company]
ZTE Corporation [State-owned Company]
Central African Republic Ministry of Posts and Telecommunications [Government Agency]