CDB provides $47.3 loan for Electrification and Home Connections Project in Huambo City (Linked to Project ID#66847 and #73434)
Commitment amount
$ 55852053.2453555
Adjusted commitment amount
$ 55852053.25
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Angola
Sector
Energy (Code: 230)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
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 $47.3 million loan to the Government of Angola for the Electrification and Home Connections Project in Huambo City. This financing likely came from the $776 million committed to the province of Huambo (see Project ID#73434). This project involves the construction of a 400 km transmission line for Laúca (Malanje) with Waku Cungo (Cuanza Sul). It aims to establish 30,000 household connections to the electricity grid in the cities of Huambo and Waku Cungo. The project officially commenced on September 13, 2016.
Additional details
The Portuguese project title is Projecto de Electrificação e Ligações Domiciliares no Huambo.
Number of official sources
4
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Government of Angola [Government Agency]
Loan Details
Maturity
12 years