Overview

China Eximbank pledges $200 million loan to Sudan Telecom for purchase of ZTE equipment

Commitments (Constant USD, 2023)$400,866,104

Commitment Year•2005Country of Activity•SudanDirect Recipient Country of Incorporation•SudanSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Nov 24, 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% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

Sudan Telecom Group (Sudatel or STG)

Implementing agencies

State-owned companies

ZTE Corporation (formerly Zhongxing Telecommunication Equipment Corporation)

Loan desecription

China Eximbank pledges $200 million loan to Sudan Telecom for purchase of ZTE equipment

Interest type•Unknown

Narrative

Full Description

Project narrative

On November 24, 2005, China Eximbank signed a memorandum of understanding (MOU) with Sudan Telecom to provide it with a $200 million loan for the purchase of communication equipment from ZTE Corporation. The borrowing terms of the loan are unknown. On May 30, 2006, a report suggested that Sudan Telecom was unhappy with some of the equipment and would request a cancellation of the contract; however, ZTE declared that the report was false and confirmed that the MOU was executed. According to a 2011 World Bank report, an agreement was signed for the loan in 2005, but no loan disbursements had taken place as of 2011.