China Development Bank provides $218 million loan to KazNurTel LLP for the CDMA-450 Network Expansion Project
Commitment amount
$ 473110870.2158845
Adjusted commitment amount
$ 473110870.22
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Kazakhstan
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
Yes
Category
Project lifecycle
Description
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.
Number of official sources
2
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
KazNurTel LLP [Joint Venture/Special Purpose Vehicle]