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Overview

CDB provides $60 million loan for 31.1 km Alto Dondo-Waco Kungo-Rio Keve Bridge Section and Waco Kungo-Rio Keve Bridge Section (Lot 5) of the EN120 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

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2016
End (actual)
May 14, 2019
Last repayment (originally scheduled)
Dec 29, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Two road segments (measuring 31.1 km in length) in Cuanza-Sul Province: one that runs from Alto Dondo to Rio Keve Bridge via Waco Kungo and another that runs from Waco Kungo to Rio Keve Bridge (Lot 5). More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.6820%2C14.4772%3B-10.9862%2C14.0961, https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-11.3611%2C15.1191%3B-10.9862%2C14.0961#map=10/-11.0423/14.6077

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 National Machinery Industry Corporation (Sinomach)

Loan desecription

CDB provides $60 million loan for 31.1 km Alto Dondo-Waco Kungo-Rio Keve Bridge Section and Waco Kungo-Rio Keve Bridge Section (Lot 5) of the EN120 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 31.1 km Alto Dondo-Waco Kungo-Rio Keve Bridge Section and Waco Kungo-Rio Keve Bridge Section (Lot 5) of the EN120 Road Rehabilitation Project. The proceeds of this loan were used to finance a $23,325,000 commercial contract with China National Machinery Industry Corporation Group (SINOMACH). The project involved the rehabilitation of two road segments (measuring 31.1 km in length) in Cuanza-Sul Province: one that runs from Alto Dondo to Rio Keve Bridge via Waco Kungo and another that runs from Waco Kungo to Rio Keve Bridge (Lot 5). The road section was officially completed around May 14, 2019. See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73637 and Record ID#73656 for other sections of the EN120 Road Rehabilitation Project.

Staff comments

1. This project is also known as Section 5 of the National Road 120 Rehabilitation Project. The Portuguese project title is Reabilitação da EN 120 - Troço Alto Dondo/Waco Kungo/Ponte do Rio Keve: Lote 05 - Waco Kungo/Ponte do Rio Keve, na Província do Cuanza-Sul. 2. The $15 billion facility agreement (captured in Record ID#66847) is fully disbursed.