CDB provides loan for 37.5 km Uige-Negage Road Rehabilitation Project

In 2016, China Development Bank and the Government of Angola reportedly signed a loan agreement for the 37.5 km Uige-Negage Road Rehabilitation Project. This loan was reportedly obtained through a China Development Bank credit line (or master loan facility agreement). The face value and borrowing terms of the loan are unknown. The proceeds of the loan are being used to finance a $29.652.276.92 commercial contract with China Petroleum Pipeline Bureau (CPP). This project involves the reconstruction of a 37.5 km segment from the town of Uige to the town of Negage along the EN220 Road. This road passes through the village of Tange, Quiôngua, Calumbo, Dambi and Pique. CPP is the contractor responsible for implementation. Construction began on 9 September, 2016. Construction was expected to last 14 months, and the expected completion date was set to be in November of 2017. Actual completion date for the project remains unknown.

Additional details

This project is also known as the Uige-Calumbo-Dambi-Negage Road Rehabilitation Project or EN220 Road Rehabilitation Project. The Portuguese project title is Reabilitação da Estrada Uíge/Calumbo/Dambi/Negage. This project might be funded by one of 2 CDB MLFAs captured by AidData, a 2014 CDB MLFA (#66806) and a 2015 CDB MLFA (#66847). In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies the face value of the loan as $50 million. However, the value of the commercial contract for this project is $29.652.276.92, so it is possible that SAIS-CARI misreported the face value. This issue requires further investigation.

Number of official sources

3

Number of total sources

5