China Eximbank contributes to $15 million loan for Lubango Electricity Network Rehabilitation Project (Linked to Record ID#67143, #100616)

Project narrative

In 2002, China Eximbank and China Construction Bank provided a $15 million loan for the Lubango Electricity Network Rehabilitation Project. The face value and borrowing terms of this loan are unknown. The purpose of the project was to rehabilitate the electricity network in Lubango. The contractor of the project is CEIEC. Record ID#34589 captures the estimated financial commitment of China Eximbank, while Record ID#100616 captures the estimated financial commitment of China Construction Bank. This loan was approved through a larger $145 million line of credit (captured in Record ID#67143), which reportedly bypassed Angola’s Ministry of Finance and disbursed funds directly to Chinese companies. It was ultimately completed, but its exact project implementation start and end dates are unknown.