Overview

China Eximbank provides RMB 388 million government concessional loan for the Second Ring Road (West Section) of Phnom Penh Project

Commitments (Constant USD, 2023)$63,686,335

Commitment Year•2016Country 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: Oct 13, 2016

Start (actual): Mar 6, 2017

End (actual): Apr 12, 2018

First repayment (originally scheduled): Dec 30, 2022

Last repayment (originally scheduled): Dec 27, 2035

Geospatial footprint

Map overview

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The purpose of the project was to construct a 16.67 km ring road southwest of the city of Phnom Penh. The road was designed to run across two lanes from Russian Federation Blvd to National Road No. 2 and across the districts of Dangkor, Sen Sok and Meanchey heading south to Takmao town. More detailed locational information can be found at https://www.openstreetmap.org/way/1163733035 and https://www.openstreetmap.org/way/613446487 and https://www.openstreetmap.org/way/815790230#map=14/11.5144/104.8988

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

Government Agencies

Government of Cambodia

State-owned companies

Shanghai Construction Engineering Group (SCG) (上海建工)

Loan desecription

China Eximbank provides RMB 388 million government concessional loan for the Second Ring Road (West Section) of Phnom Penh Project

Grace period•7 yearsGrant element•56.0077%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

On October 13, 2016, China Eximbank and the Government of Cambodia signed an RMB 388,000,000 government concessional loan (GCL) agreement for the Second Ring Road (West Section) of Phnom Penh Project. The GCL carried the following terms: 20-year maturity, 7-year grace period, and 2% interest rate. The proceeds of the GCL were to be used by the borrower to finance an EPC (commercial) contract with Shanghai Construction Group (SCG). The purpose of the project was to construct a 16.67 km ring road southwest of the city of Phnom Penh. The road was designed to run across two lanes from Russian Federation Blvd to National Road No. 2 and across the districts of Dangkor, Sen Sok and Meanchey heading south to Takmao town. SCG was the EPC contractor responsible for implementation. Construction started on March 6, 2017. The project had achieved a 50% completion rate as of November 2017. It was ultimately completed on April 12, 2018.

Staff comments

1. This project is also known as the West Second Ring Road of Phnom Penh Project and the West Section of The Second Ring Road of Phnom Penh Project. The Chinese project title is 柬埔寨金边市第二环线（西段）项目. The Khmer project title is ផ្លូវក្រវ៉ាត់ក្រុងខ្សែទី២. 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.