China Eximbank provides $68.3 million preferential buyer's credit for Siem Reap-Kampong Cham Segment of National Road No. 6A (NR 6A) Enlargement Project (Linked to Project ID#38722, #61164)
Commitment amount
$ 84114703.29040144
Adjusted commitment amount
$ 84114703.29
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Cambodia
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On August 20, 2011, China Eximbank and the Government of Cambodia signed a $68,392,600 preferential buyer's credit (PBC) agreement for the Siem Reap-Kampong Cham Segment of the National Road No. 6A (NR 6A) Enlargement Project. The borrowing terms of the PBC were as follows: 20-year maturity, 7-year grace period, 2% interest rate. The proceeds of the loan were to be used by the borrower to finance 95% of the cost of an EPC contract with Shanghai Construction Group (SCG). The Siem Reap-Kampong Cham Segment of the National Road No. 6A (NR 6A) Enlargement Project was part of a larger initiative that was implemented in three phases (through three separate projects). It was referred to as “Phase 2” of the larger initiative, and it involved the widening of a 40.5 km segment of NR 6A between Prek Leap commune in Phnom Penh’s Chroy Changvar district and the junction of Kompong Cham’s Batheay district. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. Construction officially started on February 14, 2012 and the planned construction period was 38 months. NR 6A was officially opened for use on April 6, 2017. This road connects Phnom Penh to various provinces through Kandal to the border with Thailand.
Additional details
1. The Chinese project title is 援柬埔寨国家6A号公路. 2. China Eximbank also financed Phase 1 (also known as the National Road No. 61 (NR. 61) Rehabilitation Project) and Phase 3 (also known as the Reconstruction Project of Thnal Kaeng to Ang Kroeung Segment of National Road No. 6 Project or 扩修6号公路磅湛省巴提县弯路至暹粒省安格隆地区路段) of the larger initiative. Phase 1 is captured in Project ID#38722, and Phase 3 is captured in Project ID #61164. The loan (PBC) agreements for all three phases were signed on June 13, 2012.
Number of official sources
15
Number of total sources
21
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Cambodia [Government Agency]
Implementing agencies [Type]
Shanghai Construction Engineering Group (SCG) (上海建工) [State-owned Company]
Guangzhou Wanan Construction Supervision, Co. Ltd. [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
2.0%
Grace period
7 years
Grant element (OECD Grant-Equiv)
51.7588%