Overview

CDB provides $46 million loan for Caconda-Chicomba-Quipungo Section (Lot 2) and Rio Ngalo-Quipungo Section of EN110/EN280 Road Rehabilitation Project (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 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. More detailed locational information can be found at https://www.openstreetmap.org/relation/1802545 and https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-13.73885%2C15.06197%3B-14.82532%2C14.54594#map=9/-14.2842/14.8112 and https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-14.8253%2C14.5459%3B-14.7383%2C15.0289#map=13/-14.7515/14.9940

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

Beijing Construction Engineering Group Co., Ltd. (BCEG)

Loan desecription

CDB provides $46 million loan for Caconda-Chicomba-Quipungo Section (Lot 2) and Rio Ngalo-Quipungo Section of EN110/EN280 Road Rehabilitation Project

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 $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 Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. 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.