CDB provides $18 million loan for 35 km Gabela-Quilenda Section of EN110 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 an $18 million loan in 2016 for the 35 km Gabela-Quilenda Section of EN110 Road Rehabilitation Project. The proceeds of this loan were used to finance a $27,311,307.69 commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the rehabilitation of a 35 km road segment from Gabela to Quilenda along the EN110 within the province of Cuanza-Sul. The project reportedly entered implementation, but its precise implementation start and end dates are unknown. See Project ID#65751 for other construction projects financed through the 2015 CDB facility. See Project ID#73914 and Project ID#73628 for other sections of the EN110 Road Rehabilitation Project.

Additional details

The Portuguese project title is Reabilitação da Estrada Gabela/Quilenda, na Província do Cuanza-Sul. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

2

Number of total sources

3