Overview

Bank of China provides a loan worth 67.8 million lei to Moldtelecom for technological upgrades (Linked to Record ID#66611, ID#66614, ID#66618)

Commitments (Constant USD, 2023)$7,044,935

Commitment Year•2010Country of Activity•MoldovaDirect Recipient Country of Incorporation•MoldovaSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2010

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 Commercial Banks

Bank of China (BOC)

Cofinancing agencies

Private Sector

Huawei Technologies Co., Ltd.

Receiving agencies

State-owned companies

Moldtelecom

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.

State-owned companies

Moldtelecom

Loan description

Bank of China provides a loan worth 67.8 million lei to Moldtelecom for technological upgrades

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2010, the Bank of China issued a short-term loan worth 67.8 million Lei to Moldtelecom — a state-owned telecommunications operator — to facilitate its acquisition of telecommunications (3G) equipment and post-warranty services from Huawei. The borrowing terms of the loan are unknown. By the end of 2010, Huawei and Bank of China had collectively lend Moldtelecom 236.8 million lei, which was equivalent to 30.8% of all of the outstanding debt obligations of Moldtelecom (as compared to 148.6 million lei in 2009).

Staff comments

1. Bank of China issued two separate loans to Moldtelecom in 2010. The other loan is captured in Record ID#66618. 2. The loan was part of a larger package of loans and supplier credits that Bank of China and Huawei issued to Moldtelecom (see Record ID#66611, ID#66614, ID#66618).