CDB provides loan for Cabo Ledo-Lobito Section (Lot 5) and Ponte do Rio Eval-Ponte do Rio Culango Section of EN100 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 Cabo Ledo-Lobito Section (Lot 5) and Ponte do Rio Eval-Ponte do Rio Culango Section of EN100 Road Rehabilitation Project. The proceeds of this loan were used to finance a $36,776,770.96 commercial contract with China National Machinery Industry Corporation Group (SINOMACH). The project involved the rehabilitation of two road segments along the EN100 in Benguela Province: a segment between Cabo Ledo and Lobito (Lot 5) and a segment between Ponte do Rio Eval and Ponte do Rio Culango. 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#73630 and Project ID#73638 for other sections of the EN100 Road Rehabilitation Project.

Additional details

The Portuguese project title is Reabilitação da EN 100 - Troço: Cabo Ledo/Lobito - Lote 05 - Ponte do Rio Eval/ Ponte do Rio Culango, na Província de Benguela. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

2

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