China Eximbank provides $57.8 million preferential buyer’s credit for National Road No. 62 (North Section: Tbeng Meanchey-Preas Vihear) and Road No. 210 Rehabilitation Project (Linked to Record ID#32195)

Project narrative

On April 5, 2008, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a preferential buyer’s credit (PBC) agreement for the National Road No. 62 (North Section: Tbeng Meanchey-Preas Vihear) and Road No. 210 Rehabilitation Project. The Government of Cambodia approved the loan on April 11, 2008. The PBC carried the following borrowing terms: a 20-year maturity, a 7-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 a 116.36 km section of National Road No. 62 (NR 62) between Tbeng Meanchey (Tbaeng Meanchey) and Prasat Preah Vihear Temple; and (b) rehabilitate a 34.15 km section of National Road No. 210 (NR 2010) between Thanl Bek Village at the Junction of NR62 and Srayang Koh Ker (Srayong Koh Ker). SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. A formal groundbreaking ceremony was held on April 5, 2008. On December 13, 2011, the project was officially completed and the roads were opened for use.