Narrative
Full Description
Project narrative
In 2011, Telekom Srbija (Telekom Srbija a.d. Beograd) — a Serbian state-owned telecommunications company headquartered in Belgrade — borrowed approximately EUR 39,683,946 from the Shenzhen Branch of China Development Bank (CDB) to finance its acquisition of telecommunication equipment from Huawei. Telekom Srbija's amount outstanding from CDB over the 5-year period: EUR 15,787,174 in 2011, EUR 11,057,265 in 2012, EUR 7,530,119 in 2013, EUR 4,197,311 in 2014, and EUR 1,112,077 in 2015. The borrowing terms are unknown.
Staff comments
1. AidData captures these borrowings in a single record and treats 2011 as the loan commitment year since it is the first year in which CDB made a loan disbursement to Telekom Srbija. See https://static.mts.rs/pdf/reporting/Consolidated%20Financial%20Statements/Consolidated%20Financial%20Statements%20with%20Independent%20Auditors'%20report%20for%20the%20year%202011.pdf?d=False&h=635784359338170000 2. There is no record of a loan from the Shenzhen Branch of China Development Bank (CDB) to Telekom Srbija in the Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. 3. The maturity and grace period for this loan are unknown. AidData estimates this loan has a a six year maturity and a grace period of one year because there are observed data showing the gradual repayment of the loan starting from 2012 to 2016.