Overview

China Development Bank provides loan for acquisition of telecommunications equipment

Commitment Year•2014Country of Activity•CubaDirect Recipient Country of Incorporation•CubaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jul 22, 2014

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

China Development Bank (CDB)

Receiving agencies

Government Agencies

Banco Nacional de Cuba

Loan description

China Development Bank provides loan for acquisition of telecommunications equipment

Interest type•Unknown

Narrative

Full Description

Project narrative

In July 2014, China Development Bank and Banco Nacional de Cuba signed a loan agreement for the purchase of telecommunications equipment. The face value and terms of the loan are unknown.

Staff comments

This loan likely supported telecommunication infrastructure construction activities of Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), a government-owned telecommunications service provider for the Republic of Cuba