CDB provides $531.8 million loan for Electrification and Home Connections Project in Luanda Province Project (Linked to Project ID#66847 and #73432)

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 $531.8 million loan to the Government of Angola for the Electrification and Home Connections Project in Luanda Province. The proceeds of this loan were used to partially finance a $675 million commercial contract with Sinohydro. This financing likely came from $1 billion committed to the province of Luanda (see Project ID#73432). This project sought to establish 9 substations and between 285,000 and 337,500 household connections to the electricity grid in 9 municipalities (Luanda, Viana, Belas, Kilamba Kiaxi, Talatona, Cazenga, Icolo and Bengo and Cacuaco) within Luanda Province. A foundation-laying ceremony took place on April 19, 2017. Project implementation began earlier on October 30, 2016, and was completed on August 30, 2019.

Additional details

1. The Portuguese project title is Projecto de Electrificação e Ligações Domiciliares na Província de Luanda. The Chinese project title is 安哥拉罗安达省电气化及入户连接项目. 2. The $15 billion facility agreement (captured via Project ID#66847) is fully disbursed.

Number of official sources

6

Number of total sources

13