Project ID: 34594

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

Commitment amount

$ 62486372.55009127

Adjusted commitment amount

$ 62486372.55

Constant 2021 USD

Summary

Funding agency [Type]

Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]

China Construction Bank Corporation (CCB) [State-owned Commercial Bank]

Recipient

Angola

Sector

Energy (Code: 230)

Flow type

Loan

Level of public liability

Unallocable

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

2002-01-01

Geography

Description

In 2002, China Eximbank and China Construction Bank provided a $25 million loan for the Namibe and Tombua 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 Namibe and Tombua. 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. It was ultimately completed, but its exact project implementation start and end dates are unknown.

Number of official sources

3

Number of total sources

8

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Details

Cofinanced

Yes

Direct receiving agencies [Type]

China National Electronics Import & Export Corporation (CEIEC) [State-owned Company]

Loan Details

Syndicated loan

Investment project loan

Supplier's credit/Export seller's credit