CDB provides loan for Caconda-Chicomba-Quipungo Section (Lot 1) and Rio Ngalo-Caconda Section of EN110/EN280 Road Rehabilitation Project (linked to Project ID#66847 and #65751)

On December 9, 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 December 9, 2017. One of the subsidiary loans approved through this facility was a loan in 2016 for the Caconda-Chicomba-Quipungo Section (Lot 1) and Rio Ngalo-Caconda Section of EN110/EN280 Road Rehabilitation Project. The proceeds of this loan were used to finance a $58,811,692.37 commercial contract with China Railway 20 Bureau Group Corporation (CR20). The project involved the rehabilitation of two road segments within Huíla Province: a section of the EN110 (Lot 1) between Caconda and Quipungo via Chicomba and a section of the EN110 between Rio Ngalo (Matala) and Caconda. The project entered implementation, but its precise implementation start and end dates are unknown. See Project ID#65751 for other construction projects financed through the 2015 CDB facility. See Project ID#73573 and Project ID#73628 for other sections of the EN110 Road Rehabilitation Project.

Additional details

The Portuguese project title is Reabilitação da EN 110/EN 280 - Troço: Caconda/Chicomba/Desvio de Quipungo, Lote 01 - Caconda/Rio Ngalo, na Província da Huíla. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed. This loan is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020.

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