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Overview

China Eximbank provides $68.3 million preferential buyer's credit for National Road No. 62 (South Section: Kampong Thom-Tbeng Meanchey) Rehabilitation and National Road No. 8-1 and No. 8-2 Extension Project (Linked to Record ID#38785)

Commitments (Constant USD, 2023)$94,841,371
Commitment Year•2009Country 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
Jun 26, 2009
Start (actual)
Jan 27, 2010
End (actual)
Aug 8, 2012
First repayment
Jun 24, 2016
Last repayment
Jun 21, 2029

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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The purpose of the project was to (a) rehabilitate the 128-km road (National Road No. 62 or RN 62) that connects Tbeng Meanchey, the capital of Preah Vihear Province, with Kampong Thom province's Kampong Svay district; (b) construct a 5.6km segment of Road No. 8-1 (RN 8-1) that connects Krabao in the Prey Veng province to Moeunchey in the Svay Rieng (Cambodia-Vietnam border); and (c) construct a 18.6 km segment of Road No. 8-2 (RN 8-2) that connects Anlong Chrey (Cambodia-Vietnam Border) to National Road No. 7 at Ponghea Krek. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=graphhopper_car&route=13.8058%2C104.9810%3B12.7519%2C104.9070 and https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=11.6187%2C105.8181%3B11.7968%2C105.8768#map=12/11.7074/105.8478

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

  • Cambodian Ministry of Economy and Finance

Implementing agencies

State-owned companies

  • Guangzhou Wanan Construction Supervision, Co. Ltd.
  • Shanghai Construction Group General Co.

Loan desecription

China Eximbank provides $68.3 million preferential buyer's credit for National Road No. 62 (South Section: Kampong Thom-Tbeng Meanchey) Rehabilitation and National Road No. 8-1 and No. 8-2 Extension 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 June 26, 2009, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a $68,363,120 preferential buyer's credit (PBC) agreement for the National Road No.62 (South Section: Kampong Thom-Tbeng Meanchey) Rehabilitation and National Road No. 8-1 and No. 8-2 Extension Project. The PBC carried the following borrowing terms: a 20-year maturity, a a7-year grace period, and a 2% interest rate. The proceeds of the PBC were to be used by the borrower to partially finance an EPC (commercial) contract with Shanghai Construction Group (SCG). The purpose of the project was to (a) rehabilitate the 128-km road (National Road No. 62 or RN 62) that connects Tbeng Meanchey, the capital of Preah Vihear Province, with Kampong Thom province's Kampong Svay district; (b) construct a 5.6km segment of Road No. 8-1 (RN 8-1) that connects Krabao in the Prey Veng province to Moeunchey in the Svay Rieng (Cambodia-Vietnam border); and (c) construct an 18.6 km segment of Road No. 8-2 (RN 8-2) that connects Anlong Chrey (Cambodia-Vietnam Border) to National Road No. 7 at Ponghea Krek. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. According to Chinese official sources, the groundbreaking ceremony for the Rehabilitation of National Road No. 62 (South Section) was held on January 27, 2010. The road was officially inaugurated on August 8, 2012. The opening ceremony for the Extension of Roads No. 8-1 and No. 8-2 were held when National Road No. 8 was inaugurated on November 22, 2012 (see Record ID#32239).

Staff comments

1. This project is also known as Rehabilitation of Cambodia National Road No.62 (South Section: Kampong Thom-Tbeng Meanchey) & Extension Roads No. 8-1 & No. 8-2 Project. The Chinese project title is 柬埔寨62号公路南段修复项目. 2. In the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020, it identifies the face value of the loan that supported this project as $15 million. AidData relies on the face value of the loan ($68,363,120) that is recorded in the Government of Cambodia’s aid and debt information management system, which is maintained on behalf of all ministries and agencies of the Royal Government of Cambodia by the Cambodian Rehabilitation and Development Board (CRDB) of the Council for the Development of Cambodia (CDC). 3. In 2008, China Eximbank provided a $57.8 million preferential buyer’s credit for the rehabilitation of the North Section of National Road No. 62 North Section (captured via Record ID#38785).