China Eximbank and China CITIC Bank pledge $30.6 million loan to help Kaduna State transition from analogue to digital broadcasting
Pledged amount
$ 31166243.58
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China [State-owned Policy Bank]
Recipient
Nigeria
Sector
Communications (Code: 220)
Flow type
Loan
Concessional
Vague
Category
Project lifecycle
Description
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.
Number of official sources
1
Number of unofficial sources
3
Details
Cofinanced
Yes
Cofinancing agencies [Type]
China CITIC Bank [State-owned Commercial Bank]
Receiving agencies [Type]
Government of Nigeria [Government Agency]
Loan type
Some Information
Maturity
8 years
Grace period
3 years
Gurarantee provided
No
Insurance provided
No