Overview

China Eximbank provides $5.4m buyer's credit loan to Vneshtorgbank for the purchase of Huawei Equipment (Linked to Record ID#40503)

Commitments (Constant USD, 2023)$12,150,189

Commitment Year•2003Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2003

Start (actual): Sep 1, 2003

End (actual): Sep 1, 2003

Geospatial footprint

Map overview

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This project provides a credit loan to finance Huawei equipment supply for Uralsvyazinform, which is headquartered in Ekaterinburg, Russia. More detailed locational information can be found at https://www.openstreetmap.org/way/51354993.

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

VTB Bank

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

State-owned Banks

VTB Bank

Insurance providers

State-owned companies

China Export & Credit Insurance Corporation (Sinosure)

Loan desecription

China Eximbank provides $5.4m buyer's credit loan to Vneshtorgbank for the purchase of Huawei Equipment

Interest type•Unknown

Narrative

Full Description

Project narrative

In September 2003, China's Eximbank granted Russia's Vneshtorgbank a $5.4 million USD buyer's credit loan for four years to finance Huawei equipment supply for Uralsvyazinform. The loan was provided under the basic export buyer's credit agreement between Russia's Vneshtorgbank and China's Eximbank to the sum of $100 million USD for up to 10 years signed in December 2002 for financing credits to Russian importers (see linked Record ID#40503). The deal is insured by Sinosure export insurance agency. Under the credit line, Uralsvyazinform has already received equipment for telephone lines in Perm and equipment for a GSM-network in Yamalo-Nenetskii autonomous region.