China Eximbank pledges loan for the Togoba-Kisenopoi Road Project (Linked to Project ID#63173 and #63174)
Pledged amount
$ 129941302.91155729
Adjusted pledged amount
$ 129941302.91155729
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Papua New Guinea
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
On October 1, 2013, the government of Papua New Guinea signed a $170 million USD contract with China Machinery Engineering Corporation to construct the Togoba-Kisenepoi Road Project (also known as the Kisenepol to Kaguel Bridge Road Segment). This road is a 20km section of the Highlands Highway. The road segment stretches from Pup Bridge (SHP/WHP) Border to Kisenepoi and includes the construction of 2 lane Pup and Kaguel bridges. The road segment is expected to be financed through a China Eximbank loan of K257,856,869.00 and K150 million from the PNG government. However, according to the PNG Works Department document, the loan application for the Kisenepol section had yet to be submitted. In addition, no further evidence of a loan agreement has been signed for the Kisenepol-Togoba Road Segment. This project is linked to two additional financing agreements for other sections of the Highlands Highway (captured in #63173 and #63174).
Number of official sources
6
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Papua New Guinea [Government Agency]
Implementing agencies [Type]
China Machinery Engineering Corporation (CMEC) [State-owned Company]