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China : STARTIMES bags USD 60 mln loan from EXPORT-IMPORT BANK OF CHINA

June 28, 2014



Chinese pay-TV operator StarTimes has secured approval for a USD 60 million loan from the Export-Import Bank of China.

With this, the operator is planning to boost its African digital TV subscriber base to 20 million in the coming five years.

According to CEO Pang Xinxing, it plans to launch its digital TV service to 30 African nations in the coming five years. At present, StarTimes has operations in 23 African countries.

From 2012 to date, the Export-Import Bank of China has delivered USD 163 million in loans for expansion in the African broadcasting and radio sectors.

The operators second-largest stockholder, the China-Africa Development Fund has extended USD 220 million to the company. The parent of the fund, The China Development Bank promised to offer a combined loan of USD 40 million two years ago and is exploring fresh funding options.


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Source: TendersInfo (India)


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