China Eximbank provides RMB 1.246 billion government concessional loan for Construction of National Road from Samlot-Veal Veng-Koh Kong (NR. 1551) Project

According to the Government of Cambodia’s ODA database, China Eximbank and the Government of Cambodia signed a RMB 1,246,966,000 government concessional loan (GCL) agreement on November 28, 2019 for the Construction of National Road from Samlot-Veal Veng-Koh Kong (NR. 1551) Project. The borrowing terms of the GCL (loan) are as follows: a 1.25% interest rate, a 7 year grace period, and a 20 year maturity. The borrower was expected to use the proceeds of the loan to finance an EPC contract worth $188,380,000 with China Road and Bridge Corporation (CRBC). China Eximbank made two loan disbursements in 2020 and 2021: an RMB 561,134,700 loan disbursement in 2020 and an RMB 249,393,200 loan disbursement in 2021. The lender was originally scheduled to make additional disbursements worth RMB 249,393,200 in 2022 and RMB 187,044,900 in 2023. The purpose of the project is to construct a 198.71 km road (known as National Road 1551 or NR. 1551) that runs from Samlot-Veal to Veng-Koh Kong. More specifically, the road runs from Samlot in Battambang Province and enters Pursat Province at K38+000 along the old highway before running to the south and intersecting with NR.55 in Veal Veng through Ou Saom to Koh Kong Province. The project also involves the construction of new bridges, the rehabilitation of old bridges, and the installation of sewers. China Road and Bridge Corporation (CRBC) is the EPC contractor responsible for project implementation. Project implementation officially commenced on March 9, 2020. As of March 2022, the project had achieved a 60% completion rate. The originally expected project completion date was December 31, 2023.

Additional details

1. As of May 2022, this China Eximbank loan was not included in the China’s Overseas Development Finance Dataset maintained by Boston University's Global Development Policy Center. 2. This project is also known as the Construction of Road No.10 Project (Samlot-Veal Veng-Koh Kong) 197.363 Km.

Number of official sources

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Number of total sources

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