CDB provides loan for Lucapa 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 on October 12, 2016 for the Lucapa Water Supply System Construction Project. The proceeds of this loan were used to finance a $53,975,844.41 commercial contract with China Tiesiju Civil Engineering Group Co, Limited (CTCE) and China Bengbu Corporation for International Tech-Economic Corporation (CBITEC). The project involved the construction of a new water supply system in the town of Lucapa within Lunda-Norte Province. The project entered implementation on or around October 17, 2016, but its precise implementation end date is unknown. The construction period for the project was 20 months, with the expected completion date in 2018. See Project ID#65748 for other water and energy projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Construção do novo sistema de abastecimento de água da Cidade do Lucapa, na Província da Lunda-Norte. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

2

Number of total sources

5