Overview

China Eximbank provides $43.5 million preferential buyer’s credit for 3rd Cambodia-China Friendship (Prek Tamak) Bridge Construction Project (Linked to Record ID#32113)

Commitments (Constant USD, 2023)$72,284,070

Commitment Year•2007Country 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: Feb 22, 2007

Start (actual): Jun 6, 2007

End (actual): Jan 24, 2011

First repayment: Feb 20, 2014

Last repayment: Feb 17, 2027

Geospatial footprint

Map overview

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The purpose of the project was to construct the Prek Tamak Bridge, which is 1,060 meters in length and 13.5 meters in width, with a designed speed of 60 km per hour. The bridge is located in the eastern part of the city of Phnom Penh. The bridge connects national road No. 6 and national road No. 8. and it is meant to form an east-west backbone transportation network and promote the construction of an economic corridor in the region. More detailed locational information can be found at https://www.openstreetmap.org/way/91083631#map=17/11.75162/105.00426

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

Shanghai Construction Group General Co.

Loan desecription

China Eximbank provides $43.5 million preferential buyer’s credit for 3rd Cambodia-China Friendship (Prek Tamak) Bridge Construction 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 February 22, 2007, China Eximbank and the Government of Cambodia signed a $43,503,619 preferential buyer’s credit (PBC) agreement for the 3rd Cambodia-China Friendship (Prek Tamak) Bridge Construction Project. The PBC carried the following borrowing terms: a 20-year maturity, a 7-year grace period, and a 2% interest rate. The purpose of the project was to construct the Prek Tamak Bridge, which is 1,060 meters in length and 13.5 meters in width, with a designed speed of 60 km per hour. The bridge is located in the eastern part of the city of Phnom Penh. The bridge connects national road No. 6 and national road No. 8. and it is meant to form an east-west backbone transportation network and promote the construction of an economic corridor in the region. Shanghai Construction Group (SCG) was the contractor responsible for implementation. The project commenced on June 6, 2007. An inauguration ceremony for the official use of the Prek Tamak Bridge was held on January 24, 2011.

Staff comments

1. This project is also known as the 1060m Prek Tamak Bridge Over the Mekong River Project. The Khmer project title is ស្ពានព្រែកតាមាក់. 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. 3. On January 22, 2007, China Eximbank committed to providing a $207 million loan package for the “two bridges and two roads” project (involving Prek Tamaek Bridge, Prek Kdam Bridge, National Road No. 6, and National Road No. 8; see linked umbrella Record ID#32113). This project is a partial fulfillment of that commitment.