China Eximbank and China Construction Bank provide $15 million loan for Lubango Electricity Network Rehabilitation Project (linked to #67143)
Commitment amount
$ 37491823.530054756
Adjusted commitment amount
$ 37491823.53
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
China Construction Bank Corporation (CCB) [State-owned Commercial Bank]
Recipient
Angola
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Unallocable
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
In 2002, China Eximbank and China Construction Bank provided a $15 million loan for the Lubango Electricity Network Rehabilitation Project. The face value and borrowing terms of this loan are unknown. The purpose of the project was to rehabilitate the electricity network in Lubango. The contractor of the project is CEIEC. This loan was approved through a larger $145 million line of credit (captured in Project ID#67143), which reportedly bypassed Angola’s Ministry of Finance and disbursed funds directly to Chinese companies. It was ultimately completed, but its exact project implementation start and end dates are unknown.
Additional details
The project is referred to as 安哥拉卢班戈输变电项目 in Chinese.
Number of official sources
4
Number of total sources
10
Details
Cofinanced
Yes
Direct receiving agencies [Type]
China National Electronics Import & Export Corporation (CEIEC) [State-owned Company]
Implementing agencies [Type]
Government of Angola [Government Agency]