Overview

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 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: Jun 7, 2016

Start (actual): Aug 24, 2020

Last repayment (originally scheduled): Dec 29, 2027

Geospatial footprint

Map overview

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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). More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.2675%2C15.2325%3B-9.6589%2C20.3981#map=9/-9.5980/19.5914, https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.5466%2C16.3518%3B-9.4220%2C15.7407

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 20th Bureau Group Co. Ltd.

Loan desecription

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

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 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 Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. The Portuguese project title is Reabilitação da EN 230 - Troço: Lucala/Malanje/Saurimo - Lote 02 Cacuso (Intersecção EN 322)/ Malanje, na Província de Malanje. 2. The $15 billion facility agreement (captured in Record ID#66847) is fully disbursed.