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

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 $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 Project ID#65748 for other water and energy sector projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Projecto de Electrificação e Ligações Domiciliares na Província de Benguela. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

7