CDB to loan 1 billion USD to Brazilian telecom company

$1M USD

Funder	China Development Bank (CDB)
Recipient Organization	Oi (Telemar)
Country	Brazil
Start Date	Jan 01, 2010
End Date	Jan 28, 2032
Duration	8,062 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`38456`

Grant Description

CDB to loan 1 billion USD to Brazilian telecom company In 2010, it was reported that Brazilian telecommunications company Oi will be granted a credit line of US$1 billion by the China Development Bank (CDB). The funds will be used to buy equipment, some of which from Chinese manufacturer Huawei. CDB’s funding to Oi will have a maturity of 10-years.

A source on the Conselho Empresarial Brasil-China website states that the CDB extended a $1 billion loan (to be paid off over 10-years) for the purchase of telephone equipment from Huawei for Oi and for strengthening the company. The status of the project after this is unclear.

📚 Sources & References

Oi leva US$ 1 bilhão da China e cresce presença do gigante asiático no Brasil
Brazil’s Oi granted loan by China Development Bank
Letter from China 56
Oi to Get $1 Billion Credit Line From Chinese Bank
O Globo Says
China Telecom confirms interest in Brazil's Oi 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.