CDB provides $55 million loan for 290 km Talamungongo-Mussolo-Cambundi-Catembo 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 $55 million loan in 2016 for the 290 km Talamungongo-Mussolo-Cambundi-Catembo Road Rehabilitation Project. The proceeds of this loan were used to finance a $54,544,583.08 commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the rehabilitation of a 290 km road segment in Malanje Province that runs from Talamungongo to Catembo via Mussolo and Cambundi. 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.

Additional details

The Portuguese project title is Reabilitação da Estrada Talamungongo/Mussolo/Cambundi Catembo, na Província de Malanje. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

2

Number of total sources

2