CDB provides $26 million loan for Cuíto Airport Construction and Equipment 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 $26 million loan in 2016 for the Cuito Airport Construction and Equipment Project. The proceeds of this loan were used to finance a $45 million commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the construction and equipping of the airport of the city of Cuíto (Kuito) in the Province of Bié. More specifically, it involved the construction of a new terminal building, a VIP building, an air traffic control building and a freight station. Construction began in February 2017 and the airport was officially inaugurated on October 18, 2019. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

The Portuguese project title is Construção e Apetrechamento da Aerogare da Cidade do Cuíto, na Província do Bié. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

5