Overview

China Eximbank and China CITIC Bank pledge $30.6 million loan to help Kaduna State transition from analogue to digital broadcasting

Commitments (Constant USD, 2023)$33,164,826

Commitment Year•2012Country of Activity•NigeriaDirect Recipient Country of Incorporation•NigeriaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2012

First repayment: Jul 1, 2014

Last repayment: Dec 30, 2019

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)

Cofinancing agencies

State-owned Commercial Banks

China CITIC Bank Corporation Limited

Receiving agencies

Government Agencies

Government of Nigeria

Loan desecription

China Eximbank and China CITIC Bank pledge $30.6 million loan to help Kaduna State transition from analogue to digital broadcasting

Grace period•2.5 yearsInterest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On May 2, 2011, the Kaduna State Ministry of Information and China Beijing Great Dragon information Technology Co. Ltd signed a $32.6 million commercial contract for a project to help Kaduna State transition from analogue to digital broadcasting, Then, in 2012, China Eximbank and China CITIC Bank agreed in principle to provide a $30.6 million loan to Kaduna State Media Corporation (KSMC) to help Kaduna State transition from analogue to digital broadcasting. This loan would be repaid over a period of 8 years, beginning with a two and a half years’ grace period. Two substations in Kafanchan and Zaria and three booster stations in Birnin-Gwari, Sanga, and Lere local government areas would be constructed with the proceeds from the loan. It does not appear that this loan pledge ever resulted in an official commitment.