China Eximbank provides RMB 250 million loan for OCPT National Telecommunications Network Rehabilitation Project
Commitment amount
$ 54840354.78585191
Adjusted commitment amount
$ 54840354.79
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Congo (DRC)
Sector
Communications (Code: 220)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On January 28, 2008, China Eximbank and the Government of the Democratic Republic of Congo signed an RMB 250 million loan agreement for OCPT National Telecommunications Network Rehabilitation Project. The loan carried the following terms: 10 year maturity, 5 year grace period, and 2% interest rate. The purpose of this project was to rehabilitate a GSM network managed by l’Office Congolais des Postes et Télécommunications (OCPT). Huawei was the contractor responsible for implementation.
Additional details
1. The French project title is Réhabilitation du Réseau national de télécommunication de l’OCPT. 2. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. 3. The loan was reported to be a non-concessional loan, but AidData has coded it as a concessional loan since it has exceeded 25% grant element, which meets OECD criteria as a concessional loan.
Number of official sources
4
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Democratic Republic of Congo [Government Agency]
Implementing agencies [Type]
Huawei Technologies Co., Ltd. [Private Sector]
Loan Details
Maturity
10 years
Interest rate
2.0%
Grace period
5 years
Grant element (OECD Grant-Equiv)
36.4152%