CDB loans Angola $48 million for repairing the Xinge/Lubalo road (linked to #66847 and #65751)
Commitment amount
$ 56678616.40120642
Adjusted commitment amount
$ 56678616.4
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [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
Geography
Description
On December 9, 2015, China Development Bank (CDB) entered into a $15 billion facility agreement with the Government of Angola (see Project 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 Project ID#65751 for other construction projects financed through the 2015 CDB facility.
Additional details
The Portuguese project title is Reabilitação da Estrada Xinge/Lubalo, na Província da Lunda Sul.
Number of official sources
3
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Government of Angola [Government Agency]
China National Machinery Industry Corporation (Sinomach) [State-owned Company]
Loan Details
Maturity
12 years