China Eximbank provides $113.4 million preferential buyer’s credit for National Road No. 214 (NR 214) and 6th Cambodia-China Friendship Mekong-Stung Treng Bridge Project
Commitment amount
$ 133194777.89277898
Adjusted commitment amount
$ 133194777.89
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Cambodia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On February 2, 2012, China Eximbank and the Government of Cambodia signed a $113,441,875 preferential buyer’s credit( PBC) agreement for the National Road No. 214 (NR 214) and 6th Cambodia-China Friendship Mekong-Stung Treng Bridge Project. The PBC carried the following 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 (commercial) contract between Shanghai Construction Group (SCG), which was signed on August 20, 2011. The purpose of this project was to (a) construct a 1,731-meter bridge (the 6th Cambodia-China Friendship Bridge or Stung Treng Bridge) over the Mekong River at the Junction of NR7 & NR9 in Stung Treng, and (b) construct a 143.412 km National Road No. 214 (NR 214) that stretches from PK458 of NR 7 in Stung Treng Province to PK130 of NR 62 in Preah Vihear Province. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. The expected duration of the construction period was 45 months. Road construction started on May 8, 2012, and bridge construction began on April 15, 2012. The planned completion date for both the bridge and the road was November 15, 2015. On August 19, 2014, the bridge was completed and opened to traffic ahead of schedule. An official project completion ceremony for both the bride and the road was held on April 1, 2015.
Additional details
1. This project is also known as the National Road No. 214 and Mekong River Bridge in Stung Treng Project. National Road No. 214 (NR 214) is also known was National Road No. 9 (NR 9). The Chinese project title is 柬埔寨9号公路(原名“上丁-柏威夏214号公路”)& 湄公上丁中柬友谊桥 or 持的柬埔寨214号公路项目.
Number of official sources
14
Number of total sources
21
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cambodia [Government Agency]
Implementing agencies [Type]
Shanghai Construction Group General Co. [State-owned Company]
Guangzhou Wanan Construction Supervision, Co. Ltd. [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
2.0%
Grace period
7 years
Grant element (OECD Grant-Equiv)
51.7588%