CDB provides $70.9 million loan for Electrification and Home Connections Project in Benguela Province (Linked to Record ID#66847)

Project narrative

In December 2015, China Development Bank and the Government of Angola signed a $15 billion oil prepayment facility (see Record ID#66847). All of the subsidiary loans approved through this facility have a 12 year maturity. In 2016, CDB reportedly approved a $70.9 million loan to the Government of Angola for the Electrification and Home Connections Project in Benguela Province. The proceeds of this loan were used to partially finance a $90 million commercial contract with China Tiesiju Civil Engineering Group. This project will seek to establish 45,000 household connections to the electricity grid in the municipalities of Lobito, Benguela, Catumbela and Baía Farta within Benguela Province. It reached implementation, but its precise implementation start and end dates are unknown. See Record ID#65748 for other water and energy sector projects financed through the 2015 CDB facility.