CDB provides $60 million loan for Soyo City River and Land Terminal Construction Project (Linked to Project ID#66847 and #65751)

On 9 December 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 9 December 2017. One of the subsidiary loans approved through this facility was a $60 million loan in 2016 for the Soyo City River and Land Terminal Construction Project. The proceeds of this loan were used to finance a $70 million commercial contract with China Harbour Engineering Corporation (CHEC). This project involved the construction of a 200-meter-long wharf, including 2 berths for cargo ships and 2 berths for passenger ships, in the municipality of Soyo and the province of Zaire. Construction began on 4 November 2016; and it ended on or around 24 December 2018. See Project ID#65751 for other construction projects financed through the 2015 CDB facility.

Additional details

The Chinese project title is 安哥拉索约水陆码头建造项目. The $15 billion CDB facility agreement (captured in Project ID#66847) is fully disbursed.

Number of official sources

3

Number of total sources

5