China Eximbank provides RMB 671 million government concessional loan for Nak Leoung-Thnal Torteung Section of National Road No. 11 (NR 11) Construction Project
Commitment amount
$ 114436143.54694712
Adjusted commitment amount
$ 114436143.55
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 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.
Additional details
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.
Number of official sources
7
Number of total sources
10
Details
Cofinanced
No
Direct receiving agencies [Type]
Cambodian Ministry of Economy and Finance [Government Agency]
Implementing agencies [Type]
China Road & Bridge Corporation (CRBC) [State-owned Company]
Loan Details
Maturity
20 years
Interest rate
1.25%
Grace period
7 years
Grant element (OECD Grant-Equiv)
57.4624%