CDB provides $50 million loan for Phase 2 of Lar do Patriota Integrated Infrastructure Project (Linked to Project ID#67367)
Commitment amount
$ 59040225.41792335
Adjusted commitment amount
$ 59040225.42
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Angola
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Central government debt
Infrastructure
Yes
Category
Project lifecycle
Geography
Description
In 2016, China Development Bank and the Government of Angola reportedly signed a $50 million loan for Phase 2 of Lar do Patriota Integrated Infrastructure Project. The borrowing terms of this loan are unknown. The proceeds of the loan were used by the borrower to finance a $101,640,000 commercial contract with China Huashi Group and Sichuan Haishan International Trade. Co. Ltd. The loan was approved by the Government of Angola via Presidential Order No. 137/17 on June 22, 2016. This project involved the installation of municipal infrastructure in the Lar do Patriota suburb of Luanda. A groundbreaking ceremony for this project took place on July 18, 2017. CDB also provided a loan for Phase 1A of this project (see Project ID#67367).
Additional details
The Chinese project title is 爱国者综合市政项目二期工. The Portuguese project title is Construção das Infra-Estruturas Integradas do Lar do Patriota Fase 2.
Number of official sources
3
Number of total sources
4
Details
Cofinanced
No
Direct receiving agencies [Type]
Government of Angola [Government Agency]
Implementing agencies [Type]
Government of Angola [Government Agency]
China Huashi Group [State-owned Company]
Sichuan Haishan International Trade. Co. Ltd. [Private Sector]