Overview

China Eximbank provides RMB 671 million government concessional loan for Nak Leoung-Thnal Torteung Section of National Road No. 11 (NR 11) Construction Project

Commitments (Constant USD, 2023)$105,676,028

Commitment Year•2017Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 16, 2017

Start (actual): Mar 23, 2018

End (planned): Sep 16, 2020

First repayment: May 14, 2024

Last repayment: May 11, 2037

Geospatial footprint

Map overview

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The purpose of the project is to construct a 96.48 km segment of National Road No. 11 (NR 11) that runs from Nak Leoung to Thnal Torteung. NR 11 connects National Road 1 (NR 1) in Prey Veng Province to National Road 7 (NR 7) in Tbong Khmum province. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=11.3216%2C105.2868%3B11.0367%2C106.0112

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

Cambodian Ministry of Economy and Finance

Implementing agencies

State-owned companies

China Road & Bridge Corporation (CRBC)

Loan desecription

China Eximbank provides RMB 671 million government concessional loan for Nak Leoung-Thnal Torteung Section of National Road No. 11 (NR 11) Construction Project

Grace period•7 yearsGrant element•61.4196%Interest rate (t₀)•1.25%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On May 16, 2017, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed an RMB 671,067,000 government concessional loan (GCL) agreement for the Nak Leoung-Thnal Torteung Section of National Road No. 11 (NR 11) Construction Project. The GCL carried the following terms: a 20-year maturity, a 7-year grace period, and a 1.25% interest rate. The proceeds of the GCL were to be used by the borrower to finance an EPC (commercial) contract with China Road and Bridge Corporation (CRBC). The purpose of the project is to construct a 96.48 km segment of National Road No. 11 (NR 11) that runs from Nak Leoung to Thnal Torteung. NR 11 connects National Road 1 (NR 1) in Prey Veng Province to National Road 7 (NR 7) in Tbong Khmum province. CRBC was the EPC contractor responsible for implementation. The project entered implementation on March 23, 2018, and it was originally expected to reach completion on September 16, 2020. Cambodia’s Minister of Public Works and Transport Sun Chanthol conducted an-site project inspection on May 4, 2020. On December 6, 2021, the Cambodia National Highway was officially opened to traffic.

Staff comments

1. This project is also known as the National Highway 11 Reconstruction Project and the Construction of National Road No. 11 (NR 11) Project from Nak Leoung to Thnal Torteung. The Chinese project title is 柬11号公路建设项目. The Khmer project title is ផ្លុវ សែនតសូ. 2. The China Eximbank loan that supported this project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.