CDB provides $23.1 million for Second Stage of the First Phase of the Cabinda Integrated Infrastructure Project (Linked to Project ID#34875, #66847)

In December 2015, China Development Bank and the Government of Angola signed a $15 billion oil prepayment facility (see Project ID#66847). All of the subsidiary loans approved through this facility have a 12 year maturity. In 2016, CDB reportedly approved a $23,134,757.74 loan to the Government of Angola for the Second Stage of the First Phase of the Cabinda Integrated Infrastructure Project. The proceeds of this loan were used to partially finance a $27,217,362.05 commercial contract with DAR Angola Consultoria, Ltd. The purpose of this project is to improve municipal infrastructure in the city of Cabinda. It has reportedly entered implementation, but its precise implementation start and end dates are unknown. China Eximbank also provided a loan for the First Phase of the Cabinda Integrated Infrastructure Project (captured in Project ID#34875). See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Construção de Infra-estruturas integradas da Cidade de Cabinda Fase 1 Etapa 2. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies this project as being supported by a $117 million loan. However, AidData relies on the $23,134,757.74 face value that is recorded by the Government of Angola’s Audit Office (see 'Parecer sobre a Conta Geral do Estado 2016' p. 214). SAIS-CARI also identifies two additional CDB loans for ‘Cabinda Integrated Infrastructure Phase I Lot 1 - Slope Stablization’ and ‘Cabinda Integrated Infrastructure Phase II’ worth $119 million and $140 million, respectively. However, AidData has not yet identified any official sources that corroborate that these loans were finalized (i.e. officially committed). The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

8