China Development Bank provides $18.3 million loan for Phase II of the Djibouti Telecommunication Network Expansion and Renovation Project (Linked to Project ID#421)

Between September 24, 2006 and September 26, 2006, during a Djibouti government delegation's trip to Shenzhen, representatives from China Development Bank (CDB) and Djibouti Télécom signed a $18,290,000 loan agreement for Phase II of the Djibouti Telecommunication Network Expansion and Renovation Project. The borrowing terms of the loan are unknown. Phase II of the Djibouti Telecommunication Network Expansion and Renovation Project reportedly involved the acquisition of IN \ NSS \ BSS \ NGN equipment, optimization of GSM signals, and and expansion of the country’s existing network capacity. Huawei was the contractor responsible for project implementation. The project was completed on June 20, 2007 and an official ribbon-cutting ceremony took place shortly thereafter on June 26, 2007.

Additional details

1. This project is also known as the Djibouti Télécom Project or GSM Mobile Expansion Project. The Chinese project title is 吉布提电信公司GSM移动扩容项目. 2. Phase I, which was financed by China Eximbank, is captured via Project ID#421. 3. On September 8, 2006, ZTE Corporation issued an RMB 50 million joint liability loan guarantee for a term of 12 years. This guarantee was presumably in support of Phases I and II of this project, as it was Djibouti Telecom's most important and expensive venture at the time.

Number of official sources

13

Number of total sources

13