CDB provides loan for Phase 2 of the Cabinda Campus of 11 de Novembro University Project (Linked to Project ID#66847)

In December 2015, China Development Bank and the Government of Angola signed a $15 billion oil prepayment facility agreement (see Project ID#66847). All of the subsidiary loans approved through this facility have a 12 year maturity. One of the subsidiary loans approved through the facility agreement was a loan in 2016 for Phase 2 of the Cabinda Campus of 11 de Novembro University Project. The proceeds of this loan were used by the borrower to partially finance a $23,375,000.00 commercial contract with China Road and Bridge Corporation (CRBC). The project intends to construct 3 university departments (Faculties of Economics, Medicine, and ISCED) on the Cabinda Campus of 11 de Novembro University in the city of Cabinda.

Additional details

The Portuguese project title is Construção do Campus Universitário (Fase 2), Construção de 3 Unidades Orgânicas (Faculdades de Economia, de Medicina e ISCED), na Cidade de Cabinda. SAIS-CARI identifies the face value of the loan that supported Phase 2 of the Cabinda Campus of 11 de Novembro University Project as $50 million, but this value exceeds the value of the commercial contract. Therefore, for the time being, AidData does not record a face value (transaction amount) for this loan.

Number of official sources

3

Number of total sources

7