Overview

China Eximbank provides $18.5 million loan to VTB to facilitate acquisition of Huawei equipment

Commitments (Constant USD, 2023)$26,056,253

Commitment Year•2008Country of Activity•RussiaDirect Recipient Country of Incorporation•RussiaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2008

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

Private Sector

Baikalwestcom CJSC

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

Loan description

China Eximbank provides $18.5 million loan to VTB to facilitate acquisition of Huawei equipment

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 26, 2007, Russia's VTB Bank and the China Exim Bank signed an Individual Loan Agreement of 18.5 million USD. Andrei Kostin, VTB President and Chairman of the Management Board and by Li Rougu, Chairman&President of China Exim Bank, signed as representatives. The signing occurred at the Third Russian-Chinese Economic Forum. The loan is suppose to facilitate a commercial contract to purchase telecommunications equipment between CJSC Baikalwestcom and Huawei.