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Overview

CDB provides $26 million loan for Cuíto Airport Construction and Equipment 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
Jul 6, 2016
Start (actual)
Feb 1, 2017
End (actual)
Oct 18, 2019
Last repayment
Dec 29, 2027

Geospatial footprint

Map overview

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The project involved the construction and equipping of the airport of the city of Cuíto (Kuito) in the Province of Bié. More detailed locational information can be found at https://www.openstreetmap.org/way/591162287.

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 Railway 20th Bureau Group Co. Ltd.

Loan desecription

CDB provides $26 million loan for Cuíto Airport Construction and Equipment 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 $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 Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. The Portuguese project title is Construção e Apetrechamento da Aerogare da Cidade do Cuíto, na Província do Bié. 2. The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.