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Overview

CDB provides $38 million loan for Breakwater at Cabinda Port 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

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2016
End (actual)
Oct 18, 2019
Last repayment (originally scheduled)
Dec 29, 2027

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project involved the construction of a breakwater at the Port of Cabinda. More detailed locational information can be found at https://www.openstreetmap.org/way/234796859

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 Gezhouba Group Company Ltd. (CGGC)

Loan desecription

CDB provides $38 million loan for Breakwater at Cabinda Port 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 $38 million loan in 2016 for the Breakwater at Cabinda Port Project. The proceeds of this loan were used to finance a $65 million commercial contract with China Gezhouba Group Company, Limited (CGGC). The project involved the construction of a breakwater at the Port of Cabinda. The project reportedly entered implementation in 2016 and finished around 2018. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.

Staff comments

1. The Portuguese project title is Construção do Quebramar do Porto de Cabinda. 2. The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.