CDB provides $8 million loan for 65 km Catchiungo-Chinhama Road Rehabilitation Project (Linked to Project ID#65719 and #65751)
Commitment amount
$ 9446436.066867737
Adjusted commitment amount
$ 9446436.07
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 $8 million loan in 2016 for the 65 km Catchiungo-Chinhama Road Rehabilitation Project. The proceeds of this loan were used to finance a $58,479,823.89 commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the rehabilitation of a 65 km road between Catchiungo (Katchiungo) and Chinhama in Huambo Province. It commenced in September 2016 and it was completed on October 15, 2018. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.
Additional details
The Chinese project title is 卡旗古-西俩姆(Catchiungo-Chinhama)公路. The Portuguese project title is Reabilitação da Estrada Catchiungo/Chinhama, na Província do Huambo.
Number of official sources
5
Number of total sources
9
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
China Railway 20 Bureau Group Co., Ltd. [State-owned Company]
Government of Angola [Government Agency]
Loan Details
Maturity
12 years