Project ID: 32105

China Eximbank provides $41.8 million preferential buyer's credit for National Road No. 57 (NR 57) Rehabilitation Project

Commitment amount

$ 75353192.35518609

Adjusted commitment amount

$ 75353192.36

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

2007-10-22

Actual start

2008-03-26

Actual complete

2012-03-13

Geography

Description

On January 15, 2007, the Chinese Government pledged a $100 million preferential loan package to help the Government of Cambodia build its infrastructure, including both National Road No.10 (also known as National Road No. 57) from Battambang province to Pailin city and the Takhmao Bridge in Kandal province (see Project ID#35687). Then, on October 22, 2007, the Government of Cambodia approved a $41,880,000 preferential buyer’s credit (PBC) agreement from China Eximbank for the National Road No. 57 (NR 57) Rehabilitation 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 China Road and Bridge Corporation (CRBC). The purpose of the project was to rehabilitate a 144 km segment along National Road No. 57 (NR 57) that connects Battambang with Pailin (at the Cambodia-Thailand Border). CRBC was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. Rehabilitation works commenced on March 26, 2008 and the road was officially put into use on March 13, 2012.

Additional details

1. This project is also known as The Rehabilitation of National Road No. 57 Project, 144km, from Battambang to Pailin (Cambodia and Thailand Border) Project. The Chinese project title is 柬埔寨57号公路项目. 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.

Number of official sources

10

Number of total sources

15

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Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Cambodia [Government Agency]

Implementing agencies [Type]

Guangzhou Wanan Construction Supervision, Co. Ltd. [State-owned Company]

China Road & Bridge Corporation (CRBC) [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