Overview

CDB provides $48 million loan for repairing the Xinge/Lubalo road (Linked to Record ID#66847 and #65751)

Commitment Year•2016Country of Activity•AngolaDirect Recipient Country of Incorporation•AngolaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

Last repayment (originally scheduled): Dec 29, 2027

Geospatial footprint

Map overview

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The project involved the rehabilitation of the Xinge-Lubalo road within Lunda Sul Province. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.77646%2C19.13635%3B-9.15313%2C19.28256#map=10/-9.4646/19.2307.

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

China Development Bank (CDB)

Receiving agencies

Government Agencies

Government of Angola

Implementing agencies

Government Agencies

Government of Angola

State-owned companies

China National Machinery Industry Corporation (Sinomach)

Loan description

CDB provides $48 million loan for repairing the Xinge/Lubalo road

Interest type•UnknownMaturity•12 years

Narrative

Full Description

Project narrative

On December 9, 2015, China Development Bank (CDB) entered into a $15 billion facility agreement with the Government of Angola (see Record ID#66847). The facility is an oil prepayment facility with repayments being serviced through receivables from a designated oil contract. The facility agreement has a maturity of 12 years and its availability period expired on December 9, 2017. One of the subsidiary loans approved through this facility was a $48 million loan in 2016 for the Xinge-Lubalo Road Rehabilitation Project. The proceeds of this loan were used to finance a $59,421,699.45 commercial contract with China National Machinery Industry Corporation Group (SINOMACH). The project involved the rehabilitation of the Xinge-Lubalo road within Lunda Sul Province. This project entered implementation, but its precise implementation start and end dates are unknown. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. The Portuguese project title is Reabilitação da Estrada Xinge/Lubalo, na Província da Lunda Sul.