Active Development AidData Chinese Aid

China Eximbank provides $31.832 million loan to CAMTEL for unspecified purpose in 2012 (Linked to Record ID#31230)

$31.83M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Cameroon Telecommunications (CAMTEL)
Country	Cameroon
Start Date	Apr 21, 2012
End Date	Apr 12, 2029
Duration	6,200 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`91746`

Grant Description

China Eximbank provides $31.832 million loan to CAMTEL for unspecified purpose in 2012 On April 21, 2012, China Eximbank and and CAMTEL — a state-owned telecommunications and Internet service provider in Cameroon — signed a $31,832,494 loan agreement for an unspecified purpose.

📋 Loan / Grant Terms

💰 Loan Amountcarries the following borrowing terms: 20 year maturity

📅 Maturity20 years

⏳ Grace Period5 years

💹 Interest Rate2%

As of December 31, 2020, the loan had achieved a 100% disbursement rate and its outstanding amount was equivalent to CFA 13.2 billion.

According to the Government of Cameroon’s Caisse Autonome d'Amortissements, the loan is not backed by a repayment guarantee from the Government of Cameroon.

📋 Staff Comments

China Eximbank issued a separate $31.832 million buyer’s credit (with different borrowing terms) to CAMTEL for Additional 350,0000 Lines CDMA Project in 2010 for the Additional 350,0000 Lines CDMA Project (captured via Project ID#31230). According to the Government of Cameroon’s Caisse Autonome d'Amortissements, the $31,832,494 buyer’s credit that China Eximbank issued in 2010 is backed by a repayment guarantee from the Government of Cameroon, but the $31,832,494 loan that China Eximbank issued in 2012 is not.
The proceeds of the loan were likely used to enable CAMTEL’s acquisition of wireless (CDMA) phone technology and facilitate the installation of CDMA lines. However, this issue requires further investigation.
The $31,832,494 loan that China Eximbank issued to CAMTEL in 2012 is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included it in the China’s Overseas Development Finance Dataset that Boston University's Global Development Policy Center published in December 2020.

📚 Sources & References

China's Overseas Development Finance
Chinese Loans to Africa Database (2022 Update)
Government of Cameroon 2020 Register of Chinese Loans and Borrowing Terms 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.