Narrative
Full Description
Project narrative
On November 16, 2005, China Eximbank signed a $23 million loan agreement with Zenith Bank — a local bank in Nigeria — and Starcomms Limited. Sinosure insured this loan. The proceeds of the loan were used to support the continued expansion of Starcomms Limited’s telecommunications network in Nigeria. Zenith Bank was the primary borrower and it on-lent the proceeds from the loan to Starcomms Limited. At the time that the loan agreement was signed, Starcomms had over 200,000 subscribers on its network, the highest by any private telecoms operator in Nigeria. Huawei was the contractor responsible for project implementation.