CDB provides $60 million loan for 68.8 km Lucala-Malanje-Saurimo Section and Cacuso-Malange (Lot 2) Section of the EN230 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 $60 million loan in 2016 for the 68.8 km Lucala-Malanje-Saurimo Section and Cacuso-Malange (Lot 2) Section of the EN230 Road Rehabilitation Project. The proceeds of this loan were used to finance a $61,830,000 commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the rehabilitation of two road segments (measuring 68.8 km in length) in Malanje Province: one that runs from Lucala to Saurimo via Malanje and another that runs from Cacuso to Malange (Lot 2). The road section was officially began construction on August 24, 2020. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Reabilitação da EN 230 - Troço: Lucala/Malanje/Saurimo - Lote 02 Cacuso (Intersecção EN 322)/ Malanje, na Província de Malanje. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

3