China Eximbank provides loan for Phase 2 of Saurimo Road Rehabilitation Project
Commitment amount
$ 23482471.158516902
Adjusted commitment amount
$ 23482471.16
Constant 2021 USD
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [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 17 August 2012, Presidential Order No. 104/12 was issued to approve the implementation and financing agreements for Phase 2 of the Saurimo Road Rehabilitation Project. China Eximbank provided an unspecified loan for this project. The purpose of this loan was to cover the $20 million commercial contract with Sinohydro Corporation This project involved the asphalting of suburban street in the city of Saurimo within Lunda-Sul Province. Works commenced on 17 June 2013 and were supposed to last 18 months. It is unclear whether construction ever reached completion.
Additional details
The Portuguese project title is Terraplanagem e Colocação de Asfalto em Algumas Ruas Suburbanas da Cidade de Saurimo - Fase II. The Chinese project title is 绍里木城镇及郊区公路项目. This loan was reportedly issued through a larger credit line from China Eximbank, but the specific credit line that was utilized is unknown. The loan that supported this project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
SinoHydro [State-owned Company]