China Eximbank and China Construction Bank provides $25 million loan for Namibe and Tombowa Electricity Electricity Network Rehabilitation Project (linked to #67143)

In 2002, China Eximbank and China Construction Bank provided a $25 million loan for the Namibe and Tombowa Electricity Network Rehabilitation Project (See: 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). The face value and borrowing terms of this loan are unknown. The purpose of the project was to rehabilitate the electricity network in Namibe and Tombowa.This loan was approved through a larger $145 million line of credit (captured in Project ID#67143), which reportedly bypassed Angola’s Ministry of Finance and disbursed funds directly to Chinese companies (See: Eating Everything and Leaving Nothing: Chinese Commerce in Postwar Angola). It was ultimately completed, but its exact project implementation start and end dates are unknown (See: Chinese Loans to Africa Database).

Number of official sources

3

Number of unofficial sources

5