Overview

China Eximbank provides RMB 250 million loan for GSM Network Expansion Project

Commitments (Constant USD, 2023)$58,844,321

Commitment Year•2006Country of Activity•Democratic Republic of the CongoDirect Recipient Country of Incorporation•Democratic Republic of the CongoSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 29, 2006

First repayment (originally scheduled): Dec 31, 2009

Last repayment (originally scheduled): Dec 28, 2020

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Government of Democratic Republic of Congo

Implementing agencies

Government Agencies

Government of Democratic Republic of Congo

Loan description

China Eximbank provides RMB 250 million loan for GSM Network Expansion Project

Grace period•4 yearsGrant element•45.7298%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•15 years

Narrative

Full Description

Project narrative

On January 28, 2006, China Eximbank and the Government of the Democratic Republic of Congo signed an RMB 250,000,000 loan agreement for Phase 2 of the GSM Network Expansion Project. This loan carried the following terms: 15 year maturity, 4 year grace period, and 2% interest rate. The project is also found under the alternative project title of Next Generation Network with a loan date of 2008. The purpose of this project is to facilitate a nationwide expansion of the country’s GSM Network.

Staff comments

1. Some sources refer to the face value of this loan as $31 million or $32 million, which is roughly equivalent to RMB 250 million. 2. This project is also known as the Next Generation Network (NGN) Project. The French project title is Elargissement du réseau GSM de Congo Chine Télécom au niveau national. 3. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. 4. 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.