CDB provides loan for 15 km Cuito 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 loan in 2016 for the 15 km Cuito Road Rehabilitation Project. The proceeds of this loan were used to finance a $21,000,000 commercial contract with Guangxi Hydroelectric Construction. The project involved the rehabilitation of 15 km of secondary and tertiary roads in the city of Cuito (15 km) within the province of Bié. The project reportedly entered implementation in September 2016, but its precise implementation start and end dates are unknown. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

This project is also known as the 15 km Kuito Road Rehabilitation Project. The Portuguese project title is Reabilitação de Vias Secundárias e Terciárias da Cidade do Cuito (15 Kms) na Província do Bié. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

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Number of total sources

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