China Eximbank provides $126.3 million preferential buyer’s credit for Design and Construction of National Road No.71 C Project (Linked to Project ID#61800)

According to the Government of Cambodia’s ODA database, China Eximbank and the Government of Cambodia signed a $126,382,300 preferential buyer’s credit (PBC) agreement on December 1, 2020 for the Design and Construction of National Road No.71 C Project. The borrowing terms of the PBC (loan) are as follows: a 2% 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 with Shanghai Construction Group (SCG). China Eximbank made a single loan disbursement in 2021 worth $25,276,460. The lender was originally scheduled to make additional disbursements worth $31,595,575 in 2022, $50,552,920 in 2023, and $18,957,345 in 2024. The purpose of the project is to construct a 114 km stretch of National Road No.71 (known as National Road No.71 C) connecting Chamkar Leu district Kampong Cham province and Kroch Chhmar district, Tbong Khmum district, and some parts of Tambor district of Tbong Khmum province. Shanghai Construction Group (SCG) is the EPC contractor responsible for project implementation. Project implementation officially commenced on November 23, 2021. The originally expected project completion date was December 31, 2024 and was scheduled to end simultaneously with the Cambodia-China Stung Trang-Kroch Chhmar Friendship Bridge. However, it has encountered multiple delays and problems, including land acquisition issues and the COVID-19 pandemic.

Additional details

1. The Chinese name of the project is 柬埔寨71C号国家公路项目（二期工程）or 71C号国家公路项目. The Khmer name is ផ្លូវជាតិលេខ 71C . 2. 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. 3. This is the second phase for the national road. The first phase involves the Cambodia-China Friendship Bridge Stung Treng-Krouch Chhmar (#61800).

Number of official sources

5

Number of total sources

8