Project ID: 53

China Eximbank provides RMB 115.9 million government concessional loan (GCL) for Sierra Leone CDMA Network Project

Commitment amount

$ 23809691.98

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Sierra Leone

Sector

Communications (Code: 220)

Flow type

Loan

Concessional

Yes

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Implementation

2006

2006-12-21

Actual start

Commitment year

2007

Completion

2009

2008-12-31

Planned

2009-04-24

Actual

NOTE: This project began implementation and then later secured financing from a Chinese funding agency to continue project implementation

Description

On December 21, 2006, China Eximbank and Sierra Leone’s Ministry of Finance preferential loan framework agreement with the Government of Sierra Leone’s Ministry of Finance. It specified that China Eximbank would provide a preferential loan for this project and its value would not exceed RMB 133 million. Then, on April 10, 2007, the China Eximbank and the Government of Sierra Leone signed an RMB 115,984,112 government concessional loan (GCL) loan agreement for the Sierra Leone CDMA Network Project. The GCL carried the following terms: 2 percent interest, 5 year grace period, 20 year maturity, 1% management fee, and 0.75% commitment fee. The proceeds from this loan were, in turn, on-lent to Sierratel, a state-owned fixed line telecommunications operator in Sierra Leone. The purpose of this project was to purchase Huawei’s fixed-wireless telecommunications equipment and thereby help Sierratel install a 3G (Code Division Multiplex Access, or CDMA) network in the country. The project sought to install 100,000 lines in Freetown and 14 other cities. Huawei was the contractor responsible for implementation. The project commenced on April 24, 2009 and it was completed. However, its precise completion date is unknown.

Additional details

Chinese project name: 升级塞拉利昂农村电信网项目 or CDMA农村覆盖网络.

Number of official sources

12

Number of unofficial sources

12

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Details

Cofinanced

No

Receiving agencies [Type]

Government of Sierra Leone [Government Agency]; Sierra Leone Telecommunications Co. (Sierratel) [State-owned Company]

Implementing agencies [Type]

Government of Sierra Leone [Government Agency]; Huawei Technologies Co., Ltd. [Other]; Ministry of Information and Communication (Sierra Leone) [Government Agency]; Sierra Leone Telecommunications Co. (Sierratel) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

5 years

Management fee

1.0

Commitment fee

0.75

Grant element

53.10116182%

Gurarantee provided

No

Insurance provided

No