[Cancelled] China Development Bank provides $245 million loan for Access Road to New Luanda International Airport Construction Project

In 2016, China Development Bank reportedly issued a $245 million loan to the Government of Angola (through a broader credit line) for the Access Road to New Luanda International Airport Construction Project. The borrowing terms of this loan are unknown. The proceeds of the loan were to be used by borrower to partially finance a $695,114,410 commercial contract with China Tiesiju Civil Engineering (CTCE or CREC4). However, the Angolan Government cancelled that contract in October 2016. The purpose of the project was to build an access road to the New Luanda International Airport and rehabilitation and expansion of the A4-Via Expresso Section of the EN230 Road. The New Luanda International Airport is still under construction and it is located 40 kilometers southeast of the center of the capital, in the municipality of Icolo and Bengo.

Additional details

This project is also known as the Rehabilitation of EN230 between Viana and the New Luanda/Catete International Airport. The Chinese project title is 建安哥拉国际机场“机场路”项目 or 通向新罗安达机场的通道 or 安哥拉新机场进场道路项目. The Portuguese project title is Construção da Rede de Estradas de Acesso ao Novo Aeroporto Internacional de Luanda. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it categorizes this project/loan as in “implementation’. AidData categorizes this project/loan as having been cancelled since the commercial contract that the CDB loan was supposed to finance was subsequently cancelled by the borrower.

Number of official sources

5

Number of total sources

15