CDB to loan 1 billion USD to Brazilian telecom company
Pledged amount
$ 1392726935.7962403
Adjusted pledged amount
$ 1392726935.7962403
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]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Brazil
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In 2010, it was reported that Brazilian telecommunications company Oi will be granted a credit line of US$1 billion by the China Development Bank (CDB). The funds will be used to buy equipment, some of which from Chinese manufacturer Huawei. CDB’s funding to Oi will have a maturity of 10 years. A source on the Conselho Empresarial Brasil-China website states that the CDB extended a $1 billion loan (to be paid off over 10 years) for the purchase of telephone equipment from Huawei for Oi and for strengthening the company. The status of the project after this is unclear.
Number of official sources
1
Number of total sources
5
Details
Cofinanced
No
Direct receiving agencies [Type]
Oi (Telemar) [Private Sector]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Miscellaneous Agency Type]
Loan Details
Maturity
10 years