[Suspended] CDB issues loan for the New Luanda International Airport Construction Project
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
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
Description
In 2017, China Development Bank reportedly issued a loan for the New Luanda International Airport Construction Project. The face value and borrowing terms of this loan are unknown. In 2018, ICBC also provided a loan for this airport (captured in Project ID#65402). The project involves the construction of the the New Luanda International Airport (NAIL) which is located on the outskirts of the city of Luanda. Metallurgical Corporation of China and AVIC (中航国际工程) were the contractors selected to implement the project and a 40% project completed rate was achieved by October 2017. However, the project was suspended by the Government of Angola in 2020 due to a lack of funds.
Additional details
The Chinese project title is 安哥拉罗安达新国际机场项目 or 罗安达新国际机场项目. The Portuguese project title Aeroporto Internacional de Luanda and Novo Aeroporto Internacional de Luanda. This project may be funded through a 2014 CDB credit line, captured in Project ID#66806. However, this issue requires further investigation.
Number of official sources
5
Number of total sources
7
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Metallurgical Corporation of China Ltd (MCC) [State-owned Company]
AVIC International Holding Corporation [State-owned Company]