China Eximbank provides $155.5 million preferential buyer's credit for Construction of National Emergency Telecommunications System Project

On October 29, 2013, China Eximbank and Cameroon's Ministry of Economy, Planning, and Regional Development (MINEPAT) signed a preferential buyer credit (PBC) loan agreement [CHINA EXIMBANK PBC NO. (2013) 39 TOTAL NO. (283)] worth $155,550,000 for the Cameroon National Emergency Telecommunications System Project. The lending terms are as following: maturity of 20 years, grace period of 5 years, interest rate of 2%, commitment fee of 0.25%, and a management fee of 0.25%.The funds secured via the China Eximbank loan were used to cover 85% of the commercial contract cost ($183,000,000 USD total) between the Ministry of Posts and Telecommunications of Cameroon and ZTE Corporation, the contractor for the Cameroon National Emergency Telecommunications System Project, which was signed on December 21, 2012. The purpose of this project was the construction of a national network of emergency telecommunications systems to be used to transport sensitive data for public administrations and companies with security importance, (military, police, civil defense, fire stations, etc. The project began on October 1, 2013. The implementation status of this project is ongoing.

Additional details

1. The French project title is Projet de construction d'un réseau national de télécommunications d'urgence.2. The loan agreement can be accessed in its entirety via SourceID#68604 or https://www.documentcloud.org/documents/20485906-cmr_2013_1803. The project ID number for this transaction in Cameroon's Development Assistance Database (DAD) is CAM/000847

Number of official sources

5

Number of unofficial sources

2