Loading grant details…
CDB provides $300 million loan (Facility IV) to Reliance Communications for unspecified purposes (Linked to Record ID#42654, #54348, #54349)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Reliance Communications Ltd. |
| Country | India |
| Start Date | Mar 09, 2011 |
| End Date | Jan 12, 2026 |
| Duration | 5,423 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 54350 |
Grant Description
CDB provides $300 million loan (Facility IV) to Reliance Communications for unspecified purposes On March 9, 2011, China Development Bank (CDB) provided a $300 million loan ("Facility IV") to Reliance Communication for unspecified purposes.
As of December 31, 2014, $214 million of the principal amount was outstanding under this facility. In February 2019, Reliance Communications filed for bankruptcy as it was unable to sell assets to repay its debts.
This project is linked to three other CDB loans to Reliance: $750 million USD in 2008, (Facility I) (#42654), $300 million USD in 2011, (Facility II) (#54348), and $1.33 billion in 2011 (Facility III) (#54349). All of these loans were probably used to stave off bankruptcy. Many creditors, including the CDB, are now suing the Reliance Communications to recover unpaid debts.
Staff Comments
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
- Media reports suggest that Facilities 2 and 4, amounting to 600 million USD, were used to import telecom equipment from Huawei and ZTE.
Sources & References
- Offering Circular
- Reliance Communications gets Rs 8,700 cr loan from China Development Bank
- UK Court Orders Anil Ambani to Pay $717 Million to Chinese Banks Within 21 Days
- Reliance Communications 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
Reliance Communications Ltd.
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
