Overview

China Development Bank provides $218 million loan to KazNurTel LLP for the CDMA-450 Network Expansion Project

Commitments (Constant USD, 2023)$436,944,053

Commitment Year•2005Country of Activity•KazakhstanDirect Recipient Country of Incorporation•KazakhstanSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 4, 2005

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 ownershipAt least 25% Chinese ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

Joint Venture/Special Purpose Vehicles

KazNurTel LLP

Loan description

China Development Bank provides $218 million loan to KazNurTel LLP for the CDMA-450 Network Expansion Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On July 4, 2005, China Development Bank signed a $218 million loan agreement with KazNurTel LLP -- a special purpose vehicle and joint venture of the Government of Kazakhstan (51% equity stake) and ZTE Corporation (49% equity stake) -- for a CDMA-450 (Code Division Multiple Access) Network Expansion Project. The borrowing terms of the loan are unknown. The project sought to provide trunking systems and internet access to rural areas in Kazakhstan. It also facilitated the sale of CDMA-450 telecommunications equipment and the provision of related technical support and after-sale services from Shenzhen Zhongxing Telecom Equipment Corporation (ZTE) to KazNurTel LLP. KazNurTel LLP is a Chinese-Kazakh joint venture (special purpose vehicle) that was created for the manufacture of telecommunications equipment and provision of related services, in addition to the installation of CDMA networks.