China Eximbank negotiates USD 690.2 million loan for Corimba Coast Road Construction Project
Pledged amount
$ 752214295.9858626
Adjusted pledged amount
$ 752214295.9858626
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
Angola
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Description
According to media reports in May 2018, China Eximbank and the Government of Angola were negotiating a USD 690.2 million loan for the Corimba Coast Road Construction Project. As of March 2022, there is no evidence that negotiations ever produced a final financing agreement with China Eximbank. The Government of Angola was planning to secure a USD 15.5 billion credit facility agreement from China for multiple projects. Under this agreement, Angolan authorities hoped to borrow over USD 2.5 billion from China Eximbank for infrastructure and energy projects. Out of this amount, USD 690.2 million was to be injected in the construction of the Corimba Coast Road (see Project ID #65152), USD 760.4 million would be allocated towards an electricity transmission system at Luachimo Dam (see Project ID #65154), and USD 1.1 billion would help build a naval academy in Kalunga (see Project ID #67488).
Number of official sources
3
Number of total sources
17
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]