CDB provides $75 million loan for 16.92 km Cabinda Urban Road Rehabilitation Project (Linked to Project ID#66847 and #65751)
Commitment amount
$ 84170667.71842143
Adjusted commitment amount
$ 84170667.72
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
In 2015, China Development Bank and the Government of Angola signed a $15 billion loan facility agreement (see Project ID#66847). Then, in 2017, China Development Bank and the Government of Angola signed a $75 million subsidiary loan agreement for the 16.92 km Cabinda Urban Road Rehabilitation Project. All of the subsidiary loans approved through this facility have a 12 year maturity. The proceeds of the loan will be used by the borrower to partially finance an $88.5 million commercial contract with China Road and Bridge Corporation (CRBC). The purpose of this project is to rehabilitate roads in the city of Cabinda. The implementation status of this project is unknown. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.
Number of official sources
1
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Government of Angola [Government Agency]
China Road & Bridge Corporation (CRBC) [State-owned Company]
Loan Details
Maturity
12 years