Overview

China Development Bank provides $500 million USD loan to Mobile Telecommunications Company K.S.C.P. (Zain Group) for Telecommunications Network Construction Project

Commitments (Constant USD, 2023)$512,776,590

Commitment Year•2014Country of Activity•KuwaitDirect Recipient Country of Incorporation•KuwaitSector•CommunicationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2014

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

China Development Bank (CDB)

Receiving agencies

Private Sector

Mobile Telecommunications Company K.S.C.P. (Zain Group)

Loan description

China Development Bank provides $500 million USD loan to Mobile Telecommunications Company K.S.C.P. (Zain Group) for Telecommunications Network Construction Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2014, the Shenzhen Branch of the China Development Bank provided a $500 million USD loan to Mobile Telecommunications Company KSC for Telecommunications Network Construction Project in Kuwait. The exact terms of the loan are unknown.

Staff comments

1. The Chinese project title is 科威特电信网络建设的项目. 2. Mobile Telecommunications Company KSC is also known as Mobile Telecommunications Company K.S.C. and Zain Kuwait. 3. The face value of the loan is unknown. For the time being, AidData relies on an estimate ($500 million) from a lawyer who advised on the transaction (see https://www.dropbox.com/s/wsqgbjvt8m141zy/Re-%20Query%20re-%20syndicated%20loan%20to%20Tanzania%27s%20Ministry%20of%20Finance.pdf?dl=0).