China Eximbank provides $68.3 million preferential buyer's credit for National Road No. 62 (South Section: Kampong Thom-Tbeng Meanchey) Rehabilitation and National Road No. 8-1 and No. 8-2 Extension Project (Linked to Project ID#38785)

On June 26, 2009, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a $68,363,120 preferential buyer's credit (PBC) agreement for the National Road No.62 (South Section: Kampong Thom-Tbeng Meanchey) Rehabilitation and National Road No. 8-1 and No. 8-2 Extension Project. The PBC carried the following borrowing terms: a 20-year maturity, a a7-year grace period, and a 2% interest rate. The proceeds of the PBC were to be used by the borrower to partially finance an EPC (commercial) contract with Shanghai Construction Group (SCG). The purpose of the project was to (a) rehabilitate the 128-km road (National Road No. 62 or RN 62) that connects Tbeng Meanchey, the capital of Preah Vihear Province, with Kampong Thom province's Kampong Svay district; (b) construct a 5.6km segment of Road No. 8-1 (RN 8-1) that connects Krabao in the Prey Veng province to Moeunchey in the Svay Rieng (Cambodia-Vietnam border); and (c) construct an 18.6 km segment of Road No. 8-2 (RN 8-2) that connects Anlong Chrey (Cambodia-Vietnam Border) to National Road No. 7 at Ponghea Krek. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. According to Chinese official sources, the groundbreaking ceremony for the Rehabilitation of National Road No. 62 (South Section) was held on January 27, 2010. The road was officially inaugurated on August 8, 2012. The opening ceremony for the Extension of Roads No. 8-1 and No. 8-2 were held when National Road No. 8 was inaugurated on November 22, 2012 (see Project ID#32239).

Additional details

1. This project is also known as Rehabilitation of Cambodia National Road No.62 (South Section: Kampong Thom-Tbeng Meanchey) & Extension Roads No. 8-1 & No. 8-2 Project. The Chinese project title is 柬埔寨62号公路南段修复项目. 2. In the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020, it identifies the face value of the loan that supported this project as $15 million. AidData relies on the face value of the loan ($68,363,120) that is recorded in the Government of Cambodia’s aid and debt information management system, which is maintained on behalf of all ministries and agencies of the Royal Government of Cambodia by the Cambodian Rehabilitation and Development Board (CRDB) of the Council for the Development of Cambodia (CDC). 3. In 2008, China Eximbank provided a $57.8 million preferential buyer’s credit for the rehabilitation of the North Section of National Road No. 62 North Section (captured via Project ID#38785).

Number of official sources

10

Number of total sources

18