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Overview

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

Commitments (Constant USD, 2023)$12,211,278
Commitment Year•2010Country 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
Oct 27, 2010
Start (planned)
Jun 28, 2011
Start (actual)
Jun 1, 2010
End (actual)
Jun 28, 2014
First repayment
Dec 30, 2016
Last repayment
Dec 27, 2029

Geospatial footprint

Map overview

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The purpose of this project was to rehabilitate 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. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=11.81611%2C104.81010%3B11.89123%2C104.92277#map=13/11.8537/104.8664

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

  • Guangzhou Wanan Construction Supervision, Co. Ltd.
  • Shanghai Construction Engineering Group (SCG) (上海建工)

Loan desecription

China Eximbank provides $9.4 million preferential buyer's credit for National Road No. 61 (NR. 61) Rehabilitation 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 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.

Staff comments

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 Record ID#61163 and Phase 3 is captured in Record ID#61164. The loan (PBC) agreements for all three phases were signed on June 13, 2012.