CDB provides loan for Camucuio Water Supply System Construction Project (Linked to Project ID#66847 and #65748)

On December 9, 2015, China Development Bank (CDB) entered into a $15 billion facility agreement with the Government of Angola (see Project ID#66847). The facility is an oil prepayment facility with repayments being serviced through receivables from a designated oil contract. The facility agreement has a maturity of 12 years and its availability period expired on December 9, 2017. One of the subsidiary loans approved through this facility was a loan in 2016 for the Camucuio Water Supply System Construction Project. The proceeds of this loan were used to finance a $9,743,556.42 commercial contract with China Machinery Engineering Corporation (CMEC). The project involved the construction of a new water supply system in the town of Camucuio within Namibe Province. This project entered implementation, but its precise implementation start and end dates are unknown. See Project ID#65748 for other water and energy projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Construção de Novo Sistema de Abastecimento de Água de Camucuio, na Província do Namibe. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed. SAIS-CARI identifies the face value of the loan that supported the Camucuio Water Supply System Construction Project as $10 million, but this value exceeds the value of the commercial contract.

Number of official sources

6

Number of total sources

7