China Eximbank provides $5.4m buyer's credit loan to Vneshtorgbank for the purchase of Huawei Equipment (linked to #40503)
Commitment amount
$ 13154744.1980441
Adjusted commitment amount
$ 13154744.2
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Russia
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Geography
Description
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 ProjectID#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.
Number of official sources
2
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
VTB Bank [State-owned Bank]
Implementing agencies [Type]
VTB Bank [State-owned Bank]
Huawei Technologies Co., Ltd. [Private Sector]
Insurance provider [Type]
China Export & Credit Insurance Corporation (Sinosure) [State-owned Company]