Project ID: 152

China Eximbank and China Construction Bank provide $90 million export seller’s credit for Phase 1 of the Luanda Railway Rehabilitation Project (linked to #67143)

Commitment amount

$ 195251860.9

Constant 2017 USD

Summary

Funding agency [Type]

China Construction Bank Corporation (CCB) [State-owned Commercial Bank]; Export-Import Bank of China [State-owned Policy Bank]

Recipient

Angola

Sector

Transport and storage (Code: 210)

Flow type

Supplier's Credit/Export Seller's Credit

Concessional

Vague

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 year

2002

Implementation

2003

2003-11-13

Actual start

Completion

2009

2009-02-01

Actual

Geography

Description

In 2002, China Eximbank and China Construction Bank reportedly issued a $90 million seller’s credit for Phase 1 of the Luanda Railway Rehabilitation Project (See: 安哥拉总统对中安铁路合作项目进展表示满意 and Country Level Evaluation Angola, p. 98 and Building Bridges: China's Growing Role as Infrastructure Financier for Sub-Saharan Africa, p. 113 and Chinese Financial Assistance in Angola, p. 38 and China-Angola aid relations: strategic cooperation for development?, p. 4 and Uncovering African Agency : Angola's Management of China's Credit Lines, p. 76). This loan was part of a larger $145 million credit line captured in linked Project ID#67143.The Luanda Railway Rehabilitation Project involved the rehabilitation of a 444 km railway (with 16 stations) from Luanda Province to Malanje Province. Phase 1 of the Luanda Railway Rehabilitation Project covered a 43 km segment of the railway between Baia station and Bungo station along the Luanda Railway Line known as Caminho-de-Ferro de Luanda (CFL). CMEC was the contractor responsible for implementation (See: 安哥拉总统对中安铁路合作项目进展表示满意). Construction commenced on 13 November, 2003 and was expected to be complete by August 2008 (See: Angola: Repair of Luanda Railway Complete in August). The railway was ultimately inaugurated in September 2008. Then, in February 2009, the Bungo-Baia section of the railway came into service (See: Builder of Railways Abroad and TRAFFIC LIGHTS INSTALLED AT LUANDA RAILWAYS STATIONS).Phase II of the Luanda Railway Rehabilitation Project was financed via China International Fund Ltd. (CIF), a private Hong Kong–based institution, who extended $2.9 billion to assist Angola’s postwar reconstruction effort in 2005. This credit facility is managed by Angola’s Reconstruction Office, Gabinete de Reconstrução Nacional (GRN), which is exclusively accountable to the Angolan presidency. A portion of this credit line was envisioned for Phase II of the Luanda Railway Rehabilitation Project (See: ANGOLA AND CHINA A Pragmatic Partnership and Country Level Evaluation Angola).

Additional details

The Chinese project title is 中安铁路合作项目 or 安哥拉罗安达铁路修复项目 or 罗安达铁路修复和改造项目第一期工程. Further investigation is needed to determine if the Chinese company or companies that received the export seller’s credit from China Eximbank used the proceeds to issue one or more supplier credits to the Government of Angola.More detailed locational information can be found at https://www.openstreetmap.org/node/4107364764 and https://www.openstreetmap.org/way/50563173 and https://www.openstreetmap.org/relation/2148314#map=8/-9.169/14.797 and https://www.openstreetmap.org/way/226831624.

Number of official sources

8

Number of unofficial sources

15

Download the dataset

Details

Cofinanced

Yes

Receiving agencies [Type]

China Machine-Building International Corporation (CMIC) [State-owned Company]

Implementing agencies [Type]

Government of Angola [Government Agency]

Loan type

No Information

Gurarantee provided

No

Insurance provided

No