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Overview

China Eximbank provides 51 million EUR seller's credit to ZTE for the provision and installation of mobile and fixed telecom networks

Commitments (Constant USD, 2023)$127,121,395
Commitment Year•2005Country of Activity•Central African RepublicDirect Recipient Country of Incorporation•China (People's Republic of)Sector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 22, 2005

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% Chinese ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

  • Société Centrafricaine de Télécommunications (Socatel)
  • ZTE Corporation (formerly Zhongxing Telecommunication Equipment Corporation)

Implementing agencies

Government Agencies

  • Central African Republic Ministry of Posts and Telecommunications

State-owned companies

  • Société Centrafricaine de Télécommunications (Socatel)
  • ZTE Corporation (formerly Zhongxing Telecommunication Equipment Corporation)

Loan desecription

China Eximbank provides 51 million EUR seller's credit to ZTE for the provision and installation of mobile and fixed telecom networks

Interest type•Unknown

Narrative

Full Description

Project narrative

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.

Staff comments

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.