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China Development Bank provides $60 million loan to EVNTelecom for Phase II of 3G Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | EVNTelecom |
| Country | Viet Nam |
| Start Date | Jan 01, 2009 |
| End Date | May 30, 2026 |
| Duration | 6,358 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 63265 |
Grant Description
China Development Bank provides $60 million loan to EVNTelecom for Phase II of 3G Project In 2009, China Development Bank (CDB) issued a $60 million loan to EVNTelecom for Phase II of a 3G Project.
Phase II involved the purchase of equipment and construction services.
In early 2009, EVNTelecom, a 100% state-owned entity and subsidiary of Vietnam Electicity (EVN), won a 3G operating license from the Vietnam Ministry of Information and Communication. EVNTelecom then launched the 3G Project to deploy 5,000 base stations over three years. It was split into two phases such that each phase included 2,500 base stations.
EVNTelecom hoped to launch its 3G service in April 2010. On November 18, 2009, Huawei won the contract for Phase I of this project. Because CDB offered financing for Phase II, Huawei most likely implemented Phase II as well.
Staff Comments
- The Chinese project title is 越南EVN电信公司购买3G二期项目 or 越南3G二期项目.
- The commitment year is unknown. AidData estimates that CDB signed a financing agreement for Phase II of the 3G Project in 2009 since 3G was rolled out across Vietnam in 2009 and Phase I was scheduled to end in early 2010.
- According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Vietnam was 12.6478-years in 2010. AidData estimates the maturity of the CDB loan that supported Phase II of the 3G Project by using this figure. See https://www.dropbox.com/scl/fi/nr0bw51s2ci7nrouyvwup/September-2024-Extract-from-IDS-on-Vietnam-s-Borrowings-and-Borrowing-Terms-from-Official-and-Private-Sector-PRC-Creditors.xlsx?rlkey=ismhfw04ss1w3e9aloikgo36f&dl=0 4. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Vietnam was 5.214-years in 2010. AidData estimates the grace period of the CDB loan that supported Phase II of the 3G Project by using this figure. See https://www.dropbox.com/scl/fi/nr0bw51s2ci7nrouyvwup/September-2024-Extract-from-IDS-on-Vietnam-s-Borrowings-and-Borrowing-Terms-from-Official-and-Private-Sector-PRC-Creditors.xlsx?rlkey=ismhfw04ss1w3e9aloikgo36f&dl=0 5. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from Chinese creditors to government and government-guaranteed borrowing institutions in Vietnam was 2.2752% in 2009. AidData estimates the interest rate of the CDB loan that supported Phase II of the 3G Project by using this figure. See https://www.dropbox.com/scl/fi/nr0bw51s2ci7nrouyvwup/September-2024-Extract-from-IDS-on-Vietnam-s-Borrowings-and-Borrowing-Terms-from-Official-and-Private-Sector-PRC-Creditors.xlsx?rlkey=ismhfw04ss1w3e9aloikgo36f&dl=0
Sources & References
- A YEAR OF 3G IN VIETNAM HOW ATTRACTING THE YOUNG CAN ACCELERATE GROWTH
- 华为再获越南3G合同：一期将部署2500个基站
- 华为积极开拓越南市场
- Huawei Wins in Vietnam
- China Desk Experience
- FenXun Law Firm Cui Duan
- DFDL Main Projects
- October 2024 Extract from IDS on Guinea's Borrowings and Borrowing Terms from Official PRC Creditors 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.
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EVNTelecom
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