China Eximbank provides $129.3 million preferential buyer's credit for the Pursat-Phnom Korvanh-Veaveng-Thmorda Section of National Road No. 55 (NR 55) Expansion Project

On June 9, 2014, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a $129,314,000 preferential buyer’s credit (PBC) agreement for the or the Pursat-Phnom Korvanh-Veaveng-Thmorda Section of the National Road No. 55 (NR 55) Expansion Project. The PBC carried the following terms: 20-year maturity, 7-year grace period, and 2% interest rate. 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 expand a 182 km segment along National Road No. 55 (NR 55) that runs between the provincial capital of Pursat and the Thmor Da (Thmorda) checkpoint between Cambodia's Pursat province and Thailand's Trat province. The purpose of the project was to ensure that people in Koh Kong would not find it difficult to travel from National Road No. 4 (NR 4) to Phnom Penh and continue from Pursat to Battambang. CRBC was the EPC contractor responsible for implementation. A formal groundbreaking ceremony was held on May 4, 2015, with Cambodian Prime Minister Hun Sen and Chinese Ambassador to Cambodia Bu Jianguo in attendance. The project completion ceremony was held on March 9, 2020.

Additional details

1. This project is also known as the Pursat-Phnom Korvanh-Veah Veng- Thmor Da Section of National Road No. 55 (NR 55) Expansion Project. The Chinese project title is 柬埔寨55号公路项目. 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

10

Number of total sources

18