Completed Mixed AidData Chinese Aid

China Construction Bank contributes to $90 million export seller’s credit for Phase 1 of the Luanda Railway Rehabilitation Project (Linked to Record ID#67143, #152)

$45M USD

Funder	China Construction Bank Corporation (CCB)
Recipient Organization	China Machine-Building International Corporation (CMIC)
Country	Angola
Start Date	Jan 01, 2002
End Date	Jul 17, 2029
Duration	10,059 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`100623`

Grant Description

China Eximbank and CCB contribution to $90 million export seller’s credit for Phase 1 of the Luanda Railway Rehabilitation Project in 2002 In 2002, China Eximbank and China Construction Bank reportedly issued a $90 million seller’s credit for Phase 1 of the Luanda Railway Rehabilitation Project.

The loan was part of a larger $145 million credit line captured via Record ID#67143.

Record ID#152 captures the estimated financial commitment of China Eximbank, while Record ID#100623 captures the estimated financial commitment of China Construction Bank.

The Luanda Railway Rehabilitation Project involved the rehabilitation of a 444 km railway (with 16 stations) from Luanda Province to Malanje Province.

Phase 1 of the Luanda Railway Rehabilitation Project covered a 43 km segment of the railway between Baia station and Bungo station along the Luanda Railway Line known as Caminho-de-Ferro de Luanda (CFL).

CMEC was the contractor responsible for implementation Construction commenced on November 13, 2003 and was originally expected to be complete by August 2008. The railway was ultimately inaugurated in September 2008. Then, in February 2009, the Bungo-Baia section of the railway came into service.

📋 Staff Comments

The Chinese project title is 中安铁路合作项目 or 安哥拉罗安达铁路修复项目 or 罗安达铁路修复和改造项目第一期工程.
Further investigation is needed to determine if the Chinese company or companies that received the export seller’s credit from China Eximbank used the proceeds to issue one or more supplier credits to the Government of Angola.
Phase II of the Luanda Railway Rehabilitation Project was financed via China International Fund Ltd. (CIF), a private Hong Kong–based institution, who extended $2.9 billion to assist Angola’s postwar reconstruction effort in 2005. This credit facility is managed by Angola’s Reconstruction Office, Gabinete de Reconstrução Nacional (GRN), which is exclusively accountable to the Angolan presidency. A portion of this credit line was envisioned for Phase II of the Luanda Railway Rehabilitation Project.
The individual contributions of China Eximbank and China Construction Bank to the $90 million syndicated loan are unknown. For the time being, AidData assumes equal contributions ($45 million) across all two known members of the syndicate.

📚 Sources & References

CHINA - Government promises aid for Angola.
China
Angola seek closer economic ties
Angola: Reconstruction of Luanda railroad by Chinese company, concluded in November
Angolan president speaks highly of China-built railway line on trial operation
Angola: Repair of Luanda Railway Complete in August
ANGOLA AND CHINA A Pragmatic Partnership
Chinese Financial Assistance in Angola
China-Angola aid relations: strategic cooperation for development?
Progress in reconstructing the rail network is slow
Country Level Evaluation Angola
Uncovering African Agency : Angola's Management of China's Credit Lines
安哥拉总统对中安铁路合作项目进展表示满意
Builder of Railways Abroad
LUANDA RAILWAYS TO LAUNCH CARGO TRAINS
TRAFFIC LIGHTS INSTALLED AT LUANDA RAILWAYS STATIONS
Angola's Luanda Bungo/Bala Railway Project Starts
Angola's New Minister of Transport Inspects Luanda Railway Construction Project, 11月13日，迄今为止中安最大的合作项目，造价9000万美元的罗安达铁路修复和改造项目第
Building Bridges: China's Growing Role as Infrastructure Financier for Sub-Saharan Africa
Chinese Loans to Africa Database
UNCOVERING AGENCY: ANGOLA’S MANAGEMENT OF RELATIONS WITH CHINA
China-Angola aid relations: strategic cooperation for development?
安哥拉总统对中安铁路合作项目进展表示满意
EMERGENCY MULTISECTOR RECOVERY PROJECT (EMRP) PROJECT MANAGEMENT IMPLEMENTATION UNIT Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.