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 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 $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 Project ID#65751 for other construction projects financed through the 2015 CDB facility. See Project ID#73630 and Project ID#73631 for other sections of the EN100 Road Rehabilitation Project.

Additional details

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. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

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