CDB provides $171 million loan for Camama Municipal Infrastructure Project (Linked to Project ID#67)

In 2009, China Development Bank (CDB) issued a $171 million loan to the Government of Angola for the Camama Municipal Infrastructure Project. This loan was approved under $1.5 billion credit line from CDB in 2009, which is captured via Project ID#67. The proceeds of the loan were used by the borrower to finance a commercial contract worth RMB 1,187,280,000 with Sichuan Huashi Group Corporation and H&S-China Consortium Huashi Group. China Eximbank also reportedly provided a loan for this project; however, the face value and borrowing terms are unknown. The Camama Municipal Infrastructure Project involved the construction and installation of roads, 700 housing units, water supply and drainage systems, power supply systems, communication stations, and street lamps in the suburb of Camama within Kilamba Kiaxi district. Sichuan Huashi Group Corporation and H&S-China Consortium Huashi Group were the contractors responsible for implementation. A foundation-laying ceremony for this project took place on December 18, 2009; however, it is unclear whether or when the project was completed.

Additional details

1. This project is also known as the Camama Social Housing Project. 2. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it records 3 CDB disbursements (worth $171 million) between 2011 and 2012 (worth $86 million, $31 million, and $54 million) for the Camama Municipal Infrastructure Project. For the time being, AidData relies on the sum of these disbursements to estimate the face value of CDB’s loan commitment.

Number of official sources

9

Number of total sources

12