Project ID: 30129

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

Pledged amount

$ 35928180.872530855

Adjusted pledged amount

$ 35928180.872530855

Constant 2021 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 (China Eximbank) [State-owned Policy Bank]

Recipient

Nigeria

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Central government debt

Infrastructure

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Pledge (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2012-01-01

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 total sources

4

Download the dataset

Details

Cofinanced

Yes

Cofinancing agencies [Type]

China CITIC Bank Corporation Limited [State-owned Commercial Bank]

Direct receiving agencies [Type]

Government of Nigeria [Government Agency]

Loan Details

Maturity

8 years

Grace period

3 years

Bilateral loan

Investment project loan