CDB loans $46 million for Caconda-Chicomba-Quipungo Section (Lot 2) and Rio Ngalo-Quipungo Section of EN110/EN280 Road Rehabilitation Project (Linked to Project ID#66847 and #65751)

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 $46 million loan in 2016 for the Caconda-Chicomba-Quipungo Section (Lot 2) and Rio Ngalo-Quipungo Section of EN110/EN280 Road Rehabilitation Project. The proceeds of this loan were used to finance a $54,287,716.03 commercial contract with Beijing Construction Engineering Group (BCEG). The project involved the rehabilitation of two road segments within Huíla Province: a section of the EN110 (Lot 2) between Caconda and Quipungo via Chicomba and a section of the EN280 between Rio Ngalo (Matala) and Quipungo. It 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 EN 110/EN 280 - Troço: Caconda/Chicomba/Desvio de Quipungo, Lote 02 - Rio Ngalo/Desvio de Quipungo, na Província da Huíla.

Number of official sources

3

Number of total sources

8