Overview

CDB provides $34 million loan for Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the EN100 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

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jan 1, 2016

Last repayment: Dec 29, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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Two road segments along the EN100 in Luanda Province: one that runs from Ledo to Lobita (Lot 1) and another that runs from Cabo Ledo to Rio Longa Bridge. More detailed locational information can be found at https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.6557%2C13.2389%3B-8.8131%2C13.2551#map=10/-9.2350/13.1493, https://www.openstreetmap.org/directions?engine=fossgis_osrm_car&route=-9.6557%2C13.2389%3B-10.1993%2C13.5209#map=10/-9.9271/13.3662

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

Private Sector

Qingjian Group Co., Ltd (CNQC)

Loan desecription

CDB provides $34 million loan for Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the EN100 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 $34 million loan in 2016 for the Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the EN100 Road Rehabilitation Project. The proceeds of this loan were used to finance a $35,471,053.09 commercial contract with Qingjian Group Co, Limited. The project involved the rehabilitation of two road segments along the EN100 in Luanda Province: one that runs from Ledo to Lobita (Lot 1) and another that runs from Cabo Ledo to Rio Longa Bridge. See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73630 and Record ID#73631 for other sections of the EN100 Road Rehabilitation Project.

Staff comments

1. The Portuguese project title is Reabilitação da EN 100 - Troço: Cabo Ledo/Lobito - Lote 01 - Cabo Ledo/ Ponte sobre o Rio Longa, na Província de Luanda. 2. The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.