Project ID: 38795

China Eximbank provides $36.3 million preferential buyer's credit loan for National Road 1577 (NR 1577) Rehabilitation Project

Commitment amount

$ 34985517.71

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Cambodia

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

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 year

2014

Implementation

2015

2015-11-02

Actual start

Completion

2018

2018-04-02

Actual

Description

On June 9, 2015, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a $36,301,400 preferential buyer’s credit (PBC) agreement [CHINA EXIMBANK PBC NO.2014 (39) TOTAL NO. (333)] for the National Road 1577 (NR 1577) Rehabilitation Project. The PBC carried the following terms: 20-year maturity, 7-year grace period, and 2% interest rate (See: Project/Program Information and Implementation Arrangements). The proceeds of the PBC were to be used by the borrower to partially finance an EPC (commercial) contract with China Road & Bridge Corporation (CRBC).The purpose of the project was to rehabilitate a 51.798 km segment of National Road 1577 (NR 1577), which runs from Rattanak Mondul District in Battambang Province to Samlot District within Battambang Province (near the Thai-Cambodia border).CRBC was the EPC contractor responsible for implementation. Construction started on November 2, 2015 and the road was completed on April 2, 2018. An evaluation report published by the Government of Cambodia’s MPWT in 2012 examined 14.55 km of NR1577. It determined that 12.4 km of the 14.55 km was in 'Poor' or 'Very Poor' condition and thus in need of rehabilitation.

Additional details

This project is also known as the National Road 1577 (NR 1577) Project. The Chinese project title is 1577号公路.The China Eximbank loan that supported the project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.The Government of Cambodia’s aid and debt information management system, which is maintained on behalf of all ministries and agencies of the Royal Government of Cambodia by the Cambodian Rehabilitation and Development Board (CRDB) of the Council for the Development of Cambodia (CDC), identifies the interest rate associated with this loan as being variable; however, this appears to be a typographical error.

Number of official sources

9

Number of unofficial sources

3

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Details

Cofinanced

No

Receiving agencies [Type]

Cambodian Ministry of Economy and Finance [Government Agency]

Implementing agencies [Type]

China Road & Bridge Corporation (CRBC) [State-owned Company]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

7 years

Grant element

56.00770973%

Gurarantee provided

No

Insurance provided

No