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Overview

China Eximbank provides RMB 509.5 million government concessional loan for National Road No. 59 (NR 59) Rehabilitation Project

Commitments (Constant USD, 2023)$103,486,472
Commitment Year•2009Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 21, 2009
Start (planned)
Feb 15, 2011
Start (actual)
Feb 15, 2011
End (planned)
Mar 15, 2014
End (actual)
Jun 21, 2013
First repayment
Dec 19, 2016
Last repayment
Dec 16, 2029

Geospatial footprint

Map overview

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The purpose of this project was to rehabilitate a 144.27 km section of National Road No. 59 (NR 59) that stretches along the Cambodia-Thai Border. It runs from the National Road No.5 (NR 5) intersection in the village of Kaun Damrei (Kaun Damrey) village within Banteay Meanchey province to Battambang province and then onward to National Road No. 57 (NR 57) in Pailin province. It also passes through Kamrieng, Phnom Prik, Sampov Loun, and Malay. More detailed locational information can be found at https://www.openstreetmap.org/way/515263637#map=14/12.9516/102.5872 and https://www.openstreetmap.org/way/524555207#map=13/12.9815/102.5907 and https://www.openstreetmap.org/way/515266138 and https://www.openstreetmap.org/way/515301419#map=15/13.0816/102.4926 and https://www.openstreetmap.org/way/132575277#map=13/13.6316/102.5712

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

  • Government of Cambodia

Implementing agencies

Government Agencies

  • Government of Cambodia

State-owned companies

  • Guangzhou Wanan Construction Supervision, Co. Ltd.
  • Shanghai Construction Engineering Group (SCG) (上海建工)

Loan desecription

China Eximbank provides RMB 509.5 million government concessional loan for National Road No. 59 (NR 59) Rehabilitation 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 December 21, 2009, China Eximbank and the Government of Cambodia signed an RMB 509,593,711 government concessional loan (GCL) agreement for the National Road No 59 (NR 59) Rehabilitation Project. The borrowing terms of the GCL were as follows: 20-year maturity, 7-year grace period, 1.25% interest rate. The proceeds of the loan were to be used by the borrower to finance an EPC contract with Shanghai Construction Group (SCG). The purpose of this project was to rehabilitate a 144.27 km section of National Road No. 59 (NR 59) that stretches along the Cambodia-Thai Border. It runs from the National Road No.5 (NR 5) intersection in the village of Kaun Damrei (Kaun Damrey) village within Banteay Meanchey province to Battambang province and then onward to National Road No. 57 (NR 57) in Pailin province. It also passes through Kamrieng, Phnom Prik, Sampov Loun, and Malay. SCG was the EPC contractor responsible for implementation. The project was supervised by Guangzhou Wanan Construction Supervision Company. A groundbreaking ceremony was held on February 15, 2011. The road was officially completed and opened for use on June 21, 2013.

Staff comments

1. This project is also known as The Rehabilitation of National Road No. 59 Project -- Kamrieng-Phnom Prik -- Sampov Loun -- Malay -- Kaun Damrey Project. The Chinese project title is 59号公路修复项目.