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Overview

China Eximbank provides $28.7 million preferential buyer's credit for 2nd Cambodia-China Friendship (Prek Kdam) Bridge Construction Project (Linked to Record ID#32113)

Commitments (Constant USD, 2023)$47,825,915
Commitment Year•2007Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 22, 2007
Start (actual)
Jun 11, 2007
End (actual)
May 31, 2010
First repayment
Dec 30, 2013
Last repayment
Dec 27, 2026

Geospatial footprint

Map overview

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The purpose of the project was to construct the Prek Kdam Bridge (also known as the 2nd Cambodia-China Friendship Bridge), which is 975 meters in length and 13.5 meters in width, with a speed limit of 60 km per hour. It is located 31.5 km from Phnom Penh along National Road No. 5 and it connects to National Road No. 6A in Ponhea Lue district. More detailed locational information can be found at https://www.openstreetmap.org/way/674280950#map=17/11.81464/104.80715

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Cambodia

Implementing agencies

State-owned companies

  • Shanghai Construction Group General Co.

Loan desecription

China Eximbank provides $28.7 million preferential buyer's credit for 2nd Cambodia-China Friendship (Prek Kdam) Bridge Construction Project

Grace period•7 yearsGrant element•56.0077%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On January 22, 2007, China Eximbank and the Government of Cambodia signed a $28,783,664 preferential buyer's credit (PBC) agreement for the 2nd Cambodia-China Friendship (Prek Kdam) Bridge Construction 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 Shanghai Construction Group (SCG). The purpose of the project was to construct the Prek Kdam Bridge (also known as the 2nd Cambodia-China Friendship Bridge), which is 975 meters in length and 13.5 meters in width, with a speed limit of 60 km per hour. It is located 31.5 km from Phnom Penh along National Road No. 5 and it connects to National Road No. 6A in Ponhea Lue district. The completion of the bridge was designed to facilitate the movement of people and commerce in the Eastern part of Cambodia and to enable travel to other regions without taking a ferry. SCG was the EPC contractor responsible for implementation. On June 11, 2007, the groundbreaking ceremony was held, and a closing ceremony was held on September 14, 2009. The bridge was officially opened to traffic on May 31, 2010.

Staff comments

1. This project is also known as the Construction of the 975m Prek Kdam Bridge Project. The Chinese project title is 洞里萨河大桥. The Khmer project title is ស្ពានព្រែកក្ដាម. 2. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020. 3. On January 22, 2007, China Eximbank committed to providing a $207 million loan package for the “two bridges and two roads” project (involving Prek Tamaek Bridge, Prek Kdam Bridge, National Road No. 6, and National Road No. 8; see linked umbrella Record ID#32113). This project was a partial fulfillment of that commitment.