China Eximbank provides $26.7 million preferential buyer's credit for 5th Cambodia-China Friendship New Chroy Changvar Bridge Project

Project narrative

On December 13, 2010, China Eximbank and the Government of Cambodia signed a $26,752,000 preferential buyer’s credit (PBC) agreement for the 5th Cambodia-China Friendship New Chroy Changvar Bridge Project. The borrowing terms of the PBC were as follows: 20-year maturity, 7-year grace period, and 2% interest rate. The proceeds of the PBC were used to partially finance an EPC contract with China Road and Bridge Corporation (CRBC). The purpose of the project was to construct a 719-meter bridge over the Tonle Sap River, which is located in Phnom Penh's Russei Keo district, connecting the capital Phnom Penh on the west side of the river to National Road No. 6 (NR 6) on the east side of the river. The bridge was designed to run in parallel with the existing Cambodia-Japan Friendship Bridge, or Chroy Changvar Bridge. The road width is 14-m, with 8cm asphalt concrete pavement. The ultimate aim of the project is to address traffic congestion in/out of Phnom Penh; previously there was only one bridge, the Cambodia-Japan Friendship Bridge, to manage the route in/out of the city from three different directions. CRBC was the EPC contractor responsible for project implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. A formal groundbreaking ceremony was held on November 2, 2011 and the project was completed on April 9, 2014. On October 22, 2015, a bridge opening ceremony was held.