Bank of China provides $49.2 million loan to Kazakhtelecom to purchase Huawei equipment

📋 Staff Comments

1. The status field is set to 'Completion' because it appears that the loan fully disbursed.
2. Some sources claim this was a $25.6 million USD in the first half of 2011 (for example, pg.12 of 'Результаты за 1 полугодие 2011 года'); in all likelihood, this was the first tranche of this larger loan. Kazakhtelecom reported the loan as ₸7,236,607,00 KZT ($49,344,629.18 in USD-2011 terms), but this transaction amount was not used because official sources reported a USD amount and it is highly unlikely that BOC would directly transfer funds denominated in KZT to Huawei (see this loan amount at pg.49 of 'Kazakhtelecom 2011 Annual Report').

📚 Sources & References

• Bank of China intends to finance telecommunication projects in Kazakhstan – Kazakhtelecom
• Kazakhtelecom (Kazakhstan)
• Bank of China and Huawei Technologies sign three-side memo
• Kazakhtelecom
• Bank of China Huawei Technologies signed memorandum of understanding
• Decisions of the Board of directors of Kazakhtelecom JSC, adopted in 2010, Результаты за 1 полугодие 2011 года
• Results as of 2011 and 1Q 2012, 2011 Annual Report
• Mutual understanding memorandum between Kazakhtelecom JSC
• Bank of China and Huawei Technologies 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.