Project ID: 38722

China Eximbank provides $9.4 million preferential buyer's credit for National Road No. 61 (NR. 61) Rehabilitation Project (Linked to Project ID#61163, #61164)

Commitment amount

$ 13223284.888271606

Adjusted commitment amount

$ 13223284.89

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

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2010-10-27

Planned start

2011-06-28

Actual start

2010-06-01

Actual complete

2014-06-28

Geography

Description

On October 27, 2010, China Eximbank and the Government of Cambodia signed a $9,494,528 preferential buyer's credit (PBC) agreement for the National Road No. 61 (NR. 61) Rehabilitation Project. The borrowing terms of the PBC were as follows: 20-year maturity, 7-year grace period, 2% interest rate. The proceeds of the loan were to be used by the borrower to finance 95% of the cost of an EPC contract with Shanghai Construction Group (SCG). The National Road No. 61 (NR. 61) Rehabilitation Project was part of a larger initiative that was implemented in three phases (through three separate projects). It was referred to as “Phase 1” of the larger initiative, and it involved the rehabilitation of a 16 km segment of the NR. 61 that connects Prek Kdam Bridge to a junction along National Road 6 (NR 6) in Thnol Keng village of Kampong Cham's Batheay district. The goal of the project was to facilitate traffic by widening the road to 11.5 meters. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. Construction began on June 1, 2010 and the planned construction period was 24 months. The project was ultimately completed on June 28, 2014.

Additional details

1. This project is also known as the Prek Kdam-Thnol Keng Segment of the National Road No. 61 (NR. 61) Rehabilitation Project, the NR.61 (Prek Kdam-Thnol Keng NR.6A) Project, and the Thnal Keang-Prek Kdam Bridge Road Rehabilitation Project. 2. The China Eximbank loan that supported National Road No. 61 (NR. 61) Rehabilitation Project (i.e. Phase 1) is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020. 3. China Eximbank also financed Phase 2 (also known as The Enlargement Project of Siem Reap - Kampong Cham Segment of National Road No. 6A Project or 援柬埔寨国家6A号公路) and Phase 3 (also known as the Reconstruction Project of Thnal Kaeng to Ang Kroeung Segment of National Road No. 6 Project or 扩修6号公路磅湛省巴提县弯路至暹粒省安格隆地区路段) of the larger initiative. Phase 2 is captured in Project ID#61163 and Phase 3 is captured in Project ID #61164. The loan (PBC) agreements for all three phases were signed on June 13, 2012.

Number of official sources

14

Number of total sources

17

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cambodia [Government Agency]

Implementing agencies [Type]

Shanghai Construction Engineering Group (SCG) (上海建工) [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%

Bilateral loan

Export buyer's credit

Investment project loan

Preferential Buyer's Credit