China Eximbank provides loan for Phase 2 of the Saurimo Municipal Hospital Construction and Equipping Project
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Angola
Sector
Health (Code: 120)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
On 3 January 2013, the Government of Angola and China Eximbank signed a loan agreement for Phase 2 of the Saurimo Municipal Hospital Construction and Equipping Project. The face value and borrowing terms of the loan are unknown. The loan was approved under a larger China Eximbank credit line, but it is not clear which specific credit line was utilized. The proceeds of the loan use to be used by the borrower partially finance a $17.5 million commercial contract with Sinohydro. The purpose of this project is to construct and equip Saurimo Municipal Hospital in Lunda Sul Province which is also known as Lunda Sul General Hospital and Hospital Geral de Saurimo. This project encountered various delays; however, it was officially completed and inaugurated on 17 October 2020.
Additional details
This project is also known as the Lunda Sul General Hospital Construction and Equipping Project. The Portuguese project title is Construção e Apetrechamento do Hospital Geral da Lunda Sul - Fase II or Construção e Apetrechamento do Hospital Municipal de Saurimo - Fase II. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.
Number of official sources
3
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
SinoHydro [State-owned Company]
Angola Ministry of Health [Government Agency]