China Eximbank provides RMB 160 million government concessional loan for PostCyber Project

On 20 May, 2007, China Eximbank and La Poste du Bénin S.A. signed an RMB 160 million government concessional loan (GCL) agreement for the PostCyber Project. The borrowing terms of this loan are unknown. La Poste du Bénin S.A. is a state-owned company responsible for the PostCyber Project. The Government of Benin issued a sovereign guarantee in support of this loan). This project involved the creation of a mobile and fixed-telephone network and electronification of Benin's current post office services. It had three objectives: 1) computerization and connection to high-speed internet for post offices and the head office; 2) management of PO boxes and postal products, financial applications for CCP, CNE and transfers, an ERP for the management of accounting, human resources, and stocks, deployment IP extension internally; and 3) developing postcyber SMS, cybercafés, call center, and hybrid mail. ZTE was the contractor responsible for implementation. The project commenced in 2008; however, it is unknown whether or when this project was completed. According to a December 2011 report by Benin's Ministry of Economy and Finance, the loan has not yet begun to be paid back, and 11,526,717,333 CFAF is left outstanding.

Additional details

1. The French project title is Projet PostCyber-Bénin. 2. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. 3. In May 2018 email correspondence with AidData’s Executive Director, the Coordinator of the IMF Program in Benin’s Ministry of Economy and Finance confirmed the receipt of this loan. 4. Some sources identifies this flow as a preferential export buyer's credit with a commitment value of $20 million USD; however, AidData relies on the RMB 160 million amount provided by the Presidency of the Republic of Benin site (See: DECRET N" 2007-212 DU 20 MAI 2007 and China & Africa: Assessing the Relationship on the Eve of the Fourth Forum on China Africa Co-operation (FOCAC IV) and Allocution prononcée par S.E.Mme LI Beifen, Ambassadeur chinois près le Bénin à l’occasion de la réception de la Fête national de la République Populaire de Chine).

Number of official sources

12

Number of total sources

17