China Eximbank provides $41.8 million preferential buyer's credit for National Road No. 57 (NR 57) Rehabilitation Project

Project narrative

On January 15, 2007, the Chinese Government pledged a $100 million preferential loan package to help the Government of Cambodia build its infrastructure, including both National Road No.10 (also known as National Road No. 57) from Battambang province to Pailin city and the Takhmao Bridge in Kandal province (see Record ID#35687). Then, on October 22, 2007, the Government of Cambodia approved a $41,880,000 preferential buyer’s credit (PBC) agreement from China Eximbank for the National Road No. 57 (NR 57) Rehabilitation Project. The PBC carried the following borrowing terms: 20-year maturity, 7-year grace period, and 2% interest rate. The proceeds of the PBC were to be used by the borrower to partially finance an EPC contract with China Road and Bridge Corporation (CRBC). The purpose of the project was to rehabilitate a 144 km segment along National Road No. 57 (NR 57) that connects Battambang with Pailin (at the Cambodia-Thailand Border). CRBC was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. Rehabilitation works commenced on March 26, 2008 and the road was officially put into use on March 13, 2012.