CDB provides $27 million loan for 37 km Cruzamento-Cassongue Road Rehabilitation Project (Linked to Project ID#66847 and #65751)
Commitment amount
$ 31881721.72567861
Adjusted commitment amount
$ 31881721.73
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Angola
Sector
Transport and storage (Code: 210)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
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 $27 million loan in 2016 for the 37 km Cruzamento-Cassongue Road Rehabilitation Project. The proceeds of this loan were used to finance a $31,376,000 commercial contract with Qingjian Group Co, Limited. The project involved the rehabilitation of a 37 km road from Cruzamento to Cassongue in Cuanza-Sul Province. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.
Additional details
The Portuguese project title is Reabilitação da Estrada Cruzamento/Cassongue, na Província do Cuanza-Sul. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.
Number of official sources
2
Number of total sources
2
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Government of Angola [Government Agency]
Qingjian Group Co., Ltd (CNQC) [Private Sector]
Loan Details
Maturity
12 years