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Overview

ICBC provides $80 million loan for Social Housing Project in Malanje, Moxico, and Bie provinces

Commitments (Constant USD, 2023)$80,503,704
Commitment Year•2018Country of Activity•AngolaDirect Recipient Country of Incorporation•AngolaSector•Other Social Infrastructure And ServicesFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
Start (actual)
Mar 1, 2017

Geospatial footprint

Map overview

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The project constructed 500 social housing units in Malanje province, 450 social housing units in Moxico province, and 500 social housing units in Bie province. More detailed locational information can be found at: Malanje: https://www.openstreetmap.org/relation/422660 Moxico: https://www.openstreetmap.org/relation/1802549 Bie: https://www.openstreetmap.org/relation/1802541

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 Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Government Agencies

  • Government of Angola

Implementing agencies

State-owned companies

  • Guangxi Hydroelectric Construction Bureau (GHCB)

Loan description

ICBC provides $80 million loan for Social Housing Project in Malanje, Moxico, and Bie provinces

Interest type•Unknown

Narrative

Full Description

Project narrative

In 2018, the Industrial and Commercial Bank of China (ICBC) and the Government of Angola reportedly signed an $80 million loan agreement for a Social Housing Project. The proceeds from this loan were used to partially finance a $92.2 million commercial contract between the Government of Angola and Guangxi Hydroelectric Construction Bureau, which was signed in late 2015. The purpose of this project is to build 500 social housing units in Malanje province, 450 social housing units in Moxico province, and 500 social housing units in Bie province. On March 1, 2017, Guangxi Hydroelectric Construction Bureau started the construction. As of 2018, the project is still under implementation.