Loading grant details…
China Eximbank provides $23 million loan to support the expansion of Starcomms Limited telecommunications network
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Zenith Bank Plc. |
| Country | Nigeria |
| Start Date | Nov 16, 2005 |
| End Date | Feb 23, 2027 |
| Duration | 7,769 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 1645 |
Grant Description
China Eximbank provides $23 million loan to support the expansion of Starcomms Limited telecommunications network On November 16, 2005, China Eximbank signed a $23 million loan agreement with Zenith Bank — a local bank in Nigeria — and Starcomms Limited. Sinosure insured this loan.
The proceeds of the loan were used to support the continued expansion of Starcomms Limited’s telecommunications network in Nigeria. Zenith Bank was the primary borrower and it on-lent the proceeds from the loan to Starcomms Limited.
At the time that the loan agreement was signed, Starcomms had over 200,000 subscribers on its network, the highest by any private telecoms operator in Nigeria. Huawei was the contractor responsible for project implementation.
Sources & References
- Company Finance Alert - Chinese Bank To Loan US$23mn For Nigerian Network Expansion, http://nigeria.mofcom.gov.cn/sys/print.shtml?/ztdy/200804/20080405456896
- 中国企业开拓尼日利亚通讯市场的现状、存在问题及建议
- FG Abandons $200 Million Rural Telephony Project
- 尼日利亚众议院通讯委员会调查50亿奈拉的农网电话项目
- Starcomms Set to Become 3rd National Operator
- Starcomms
- Zenith
- China Bank Seal N3.1bn Deal
- NIGERIA STARCOMMS WANTS TO BECOME 3RD NATIONAL OPERATOR, https://www.siemens.be/cmc/upload/asap2/Akili_ni_Mali/Release-73/ICEXTBD_competitor_contracts.xls Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Zenith Bank Plc.
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
