Overview

CDB provides $8 million loan for 65 km Catchiungo-Chinhama Road Rehabilitation Project (Linked to Record ID#65719 and #65751)

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

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

Start (actual): Sep 1, 2016

End (actual): Oct 15, 2018

Last repayment (originally scheduled): Dec 29, 2027

Geospatial footprint

Map overview

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The project involved the rehabilitation of a 65 km road between Catchiungo (Katchiungo) and Chinhama in Huambo Province. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-12.567%2C16.227%3B-13.103%2C16.432#map=10/-12.8346/16.3367

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 Railway 20 Bureau Group Co., Ltd.

Loan desecription

CDB provides $8 million loan for 65 km Catchiungo-Chinhama 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 $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 Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. 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.