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Overview

CDB provides $18 million loan for 35 km Gabela-Quilenda Section of EN110 Road Rehabilitation Project (Linked to Record ID#66847 and #65751)

Commitment Year•2016Country of Activity•AngolaDirect Recipient Country of Incorporation•AngolaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2016
Last repayment
Dec 29, 2027

Geospatial footprint

Map overview

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The project involved the rehabilitation of a 35 km road segment from Gabela to Quilenda along the EN110 within the province of Cuanza-Sul. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-10.85068%2C14.37520%3B-10.64145%2C14.33582#map=11/-10.7237/14.3736

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • China Development Bank (CDB)

Receiving agencies

Government Agencies

  • Government of Angola

Implementing agencies

Government Agencies

  • Government of Angola

State-owned companies

  • China Railway 20 Bureau Group Co., Ltd.

Loan desecription

CDB provides $18 million loan for 35 km Gabela-Quilenda Section of EN110 Road Rehabilitation Project

Interest type•UnknownMaturity•12 years

Narrative

Full Description

Project narrative

On December 9, 2015, China Development Bank (CDB) entered into a $15 billion facility agreement with the Government of Angola (see Record 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 Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73914 and Record ID#73628 for other sections of the EN110 Road Rehabilitation Project.

Staff comments

1. The Portuguese project title is Reabilitação da Estrada Gabela/Quilenda, na Província do Cuanza-Sul. 2. The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.