Overview

Bank of China provides loan for Magyar Telecom's Fiber-to-the-Home (FTTH) Project

Commitment Year•2015Country of Activity•HungaryDirect Recipient Country of Incorporation•China (People's Republic of)Sector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 1, 2015

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% Chinese ownership

Funding agencies

State-owned Commercial Banks

Bank of China (BOC)

Receiving agencies

Private Sector

Huawei Technologies Co., Ltd.

Implementing agencies

Private Sector

Huawei Technologies Co., Ltd.
Magyar Telekom Nyrt.

Loan description

Bank of China provides loan for Magyar Telecom's Fiber-to-the-Home (FTTH) Project

Interest type•Unknown

Narrative

Full Description

Project narrative

On February 9, 2015, Huawei Technologies Co., Ltd. announced that it will invest nearly HUF 10 billion (~ RMB 229 million) in the construction of Hungary's broadband network as part of Hungarian telecom company Magyar Telekom Nyrt.'s fiber-to-the-home (FTTH) project. Huawei planned to lay about 1,000 kilometers of optical cables in Hungary to provide broadband networks capable of reaching nearly 140,000 residents. Prior to June 2015, Bank of China (BOC) provided a combination of project financing and operational leasing in support of Huawei's implementation of Magyar Telekom's FTTH project.

Staff comments

1. The Chinese project title is 匈牙利电信光纤到户项目.