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China Eximbank contributes to $15 million loan for Lubango Electricity Network Rehabilitation Project (Linked to Record ID#67143, #100616)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | China National Electronics Import & Export Corporation (CEIEC) |
| Country | Angola |
| Start Date | Jan 01, 2002 |
| End Date | Sep 10, 2032 |
| Duration | 11,210 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 34589 |
Grant Description
CCB and China Eximbank contributions to $15 million syndicated loan for Lubango Electricity Network Rehabilitation Project In 2002, China Eximbank and China Construction Bank provided a $15 million loan for the Lubango Electricity Network Rehabilitation Project.
The purpose of the project was to rehabilitate the electricity network in Lubango. The contractor of the project is CEIEC.
Record ID#34589 captures the estimated financial commitment of China Eximbank, while Record ID#100616 captures the estimated financial commitment of China Construction Bank.
This loan was approved through a larger $145 million line of credit (captured in Record ID#67143), which reportedly bypassed Angola’s Ministry of Finance and disbursed funds directly to Chinese companies. It was ultimately completed, but its exact project implementation start and end dates are unknown.
Staff Comments
- The project is referred to as 安哥拉卢班戈输变电项目 in Chinese.
- The individual contributions of China Eximbank and China Construction Bank to the $15 million syndicated loan are unknown. For the time being, AidData assumes equal contributions ($7.5 million) across all two known members of the syndicate.
Sources & References
- Chinese Financial Assistance in Angola
- Chinese involvement in Angola
- Uncovering African Agency : Angola's Management of China's Credit Lines
- Country Level Evaluation Angola
- 对非洲石油的渴求 —记在尼日利亚和安哥拉的 亚洲国有石油公司
- Eating Everything and Leaving Nothing: Chinese Commerce in Postwar Angola
- Building Bridges: China's Growing Role as Infrastructure Financier for Sub-Saharan Africa
- Chinese Loans to Africa Database
- China-Angola aid relations: strategic cooperation for development?
- 安哥拉卢班戈输变电项目 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.
All Grantees
China National Electronics Import & Export Corporation (CEIEC)
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