Overview

CDB provides loan for Phase 2 of National Broadband Project (Linked to Record ID#35993)

Commitment Year•2010Country of Activity•VenezuelaDirect Recipient Country of Incorporation•VenezuelaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2010

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

China Development Bank (CDB)

Receiving agencies

Government Agencies

Government of Venezuela

Implementing agencies

State-owned companies

Telecom Venezuela
ZTE Corporation (formerly Zhongxing Telecommunication Equipment Corporation)

Loan description

CDB provides loan for Phase 2 of National Broadband Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2009, ZTE Corporation signed a $25 million commercial contract with CVG Telecom for Phase 2 of the National Broadband Project. The project was reportedly financed at least in part with the proceeds of a loan that China Development Bank that issued in April 2010. Nor further details are available. Phase 1 was implemented by Huawei and it is captured via Record ID#35993

Staff comments

1. This project was part of a series of contracts signed between Telecom Venezuela (formerly CVG Telecom) and three Chinese companies. Projects #35991, 35992, 35993, 35994, 35995, and 35996 were all (planned to be) signed around the same time period.