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

On April 22, 2005, ZTE signed a 51 million EUR 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 seller's credits (see: '中兴公司与中非方签订通讯设备供货商务合同' and World Bank document p. 240). The loan 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

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 unofficial sources

6