CDB provides $125 million, 7-year loan to Turkcell to finance purchases from Huawei (Linked to Record ID#67353)

$125M USD

Funder	China Development Bank (CDB)
Recipient Organization	Turkcell İletişim Hizmetleri A.Ş. (Turkcell)
Country	Turkey
Start Date	Dec 22, 2011
End Date	Mar 04, 2032
Duration	7,378 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67354`

Grant Description

CDB provides $125 million, 7-year loan to Turkcell to finance purchases from Huawei On December 22, 2011, Turkcell İletişim Hizmetleri A.Ş. (“Turkcell”) — the largest (private) mobile phone operator in Turkey — signed a $250 million loan agreement with China Development Bank to finance the company’s purchases of products and services from Huawei and thereby support the company’s capital investments.

📋 Loan / Grant Terms

💰 Loan Amountwas divided into two equal tranches of $125 million: the first tranche (captured in Record ID#67353) had a maturity length of 5 years and an interest rate LIBOR (calculated at 0

This loan was not collateralized.

📚 Sources & References

ANNUAL REPORT 2011
China to give hefty loan to Turkcell
Turkcell'e Çin'den 250 milyon $'lık kredi 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.