CDB provides $38 million loan for Malanje Youth House Construction and Equipping Project

Project narrative

In 2017, China Development Bank (CDB) and the Government of Angola signed a $38 million loan agreement for the Malanje Youth House Construction and Equipping Project. This loan was reportedly approved through a larger CDB line of credit, but it is not known which specific line of credit supported this project. The borrowing terms of the loan are also unknown. The project involves the construction of 14 buildings on a site covering 5,000 square meters in the Voanvala neighbourhood on the outskirts of the city of Malanje. The center will include a 60-seat auditorium, a library, four 32-seat classrooms, offices, an infirmary and a 16-bed dormitory. The complex will also have sports fields and a swimming pool. China CAMC Engineering Co, a subsidiary of Sinomach, is the contractor responsible for implementation. Construction began on March 8, 2019. The expected duration of the construction period is 18 months.