CDB provides $29 million loan for 48 km Alto Dondo-Capanda and São Pedro da Quilemba-Alto Dondo Road Rehabilitation Project (Linked to Project ID#66847 and #65751)

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 $29 million loan in 2016 for the 48 km Alto Dondo-Capanda and São Pedro da Quilemba-Alto Dondo Road Rehabilitation Project. The proceeds of this loan were used to finance a $35,392,738.06 commercial contract with Sinohydro Group, Limited. The project involved the rehabilitation of two road segments (measuring 48 km in length) between Alto Dondo and Capanda and Alto Dondo and São Pedro da Quilemba in Cuanza Norte Province. The project was reportedly completed on June 12, 2019, but its precise implementation start date is unknown. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Reabilitação da Estrada Alto Dondo/Capanda - Troço: São Pedro da Quilemba/Alto Dondo, na Província do Cuanza-Norte. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

5