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Overview

CDB provides $39.2 million for supply of equipment to 3 Angolan railway companies in Luanda (CFL), Benguela (CFB), and Moçâmedes (CFM)

Commitments (Constant USD, 2023)$42,766,602
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
Dec 1, 2016

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

  • Angola Ministry of Transportation

State-owned companies

  • China Railway International Group Co., Ltd. (CRIG)

Loan description

CDB provides $39.2 million for supply of equipment to 3 Angolan railway companies in Luanda (CFL), Benguela (CFB), and Moçâmedes (CFM)

Interest type•Unknown

Narrative

Full Description

Project narrative

In December 2016, China Development Bank (CDB) and the Government of Angola signed a $39,209,458.33 loan agreement for the supply of equipment to 3 Angolan railway companies in Luanda (CFL), Benguela (CFB), and Moçâmedes (CFM). The proceeds from this loan were used to partially finance a commercial contract worth $46,128,774.51 with China Railway International Group Co, Limited. This project was reportedly completed, but its precise project implementation start and end dates are unknown.

Staff comments

The Portuguese project title is Fornecimento de Equipamentos Oficinais para os CFA and Fornecimento de Equipamentos das Oficinas para os Caminhos de Ferro de Luanda - CFL, Caminhos de Ferro de Moçâmedes - CFM e Caminhos de Ferro de Benguela - CFB. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies the creditor of the loan that supported this project as China Eximbank; however, AidData relies on the identify of the creditor that is recorded by the Government of Angola’s Audit Office (Tribunal de Contas).