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Overview

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

Commitments (Constant USD, 2023)$130,392,893
Commitment Year•2020Country of Activity•CambodiaDirect Recipient Country of Incorporation•CambodiaSector•Transport And StorageFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Dec 1, 2020
Start (actual)
Nov 23, 2021
End (planned)
Dec 31, 2024
First repayment (originally scheduled)
Nov 30, 2027
Last repayment (originally scheduled)
Nov 26, 2040

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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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. More detailed locational information can be found at: https://www.openstreetmap.org/way/669312634.

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Government Agencies

  • Government of Cambodia

Implementing agencies

State-owned companies

  • Shanghai Construction Group Co., Ltd. (SCG)

Loan desecription

China Eximbank provides $126.3 million preferential buyer’s credit for Design and Construction of National Road No.71 C Project

Grace period•7 yearsGrant element•56.0077%Interest rate (t₀)•2%Interest type•Fixed Interest RateMaturity•20 years

Narrative

Full Description

Project narrative

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.

Staff comments

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).