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China Eximbank provides $36.3 million preferential buyer's credit loan for National Road 1577 (NR 1577) Rehabilitation Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Cambodian Ministry of Economy and Finance |
| Country | Cambodia |
| Start Date | Jan 01, 2014 |
| End Date | Apr 03, 2030 |
| Duration | 5,936 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 38795 |
Grant Description
China Eximbank provides $36.3 million preferential buyer's credit loan for National Road 1577 (NR 1577) Rehabilitation Project On June 9, 2015, China Eximbank and the Government of Cambodia's Ministry of Economy and Finance signed a $36,301,400 preferential buyer’s credit (PBC) agreement [CHINA EXIMBANK PBC NO.2014 (39) TOTAL NO. (333)] for the National Road 1577 (NR 1577) Rehabilitation Project.
The proceeds of the PBC were to be used by the borrower to partially finance an EPC (commercial) contract with China Road & Bridge Corporation (CRBC).
The purpose of the project was to rehabilitate a 51.798 km segment of National Road 1577 (NR 1577), which runs from Rattanak Mondul District in Battambang Province to Samlot District within Battambang Province (near the Thai-Cambodia border). CRBC was the EPC contractor responsible for implementation.
Construction started on November 2, 2015 and the road was completed on April 2, 2018. An evaluation report published by the Government of Cambodia’s MPWT in 2012 examined 14.55 km of NR1577. It determined that 12.4 km of the 14.55 km was in 'Poor' or 'Very Poor' condition and thus in need of rehabilitation.
Staff Comments
- This project is also known as the National Road 1577 (NR 1577) Project. The Chinese project title is 1577号公路.
- The China Eximbank loan that supported the project is not included in the Overseas Development Finance Dataset that Boston University’s Global Development Policy Center published in December 2020.
- The Government of Cambodia’s aid and debt information management system, which is maintained on behalf of all ministries and agencies of the Royal Government of Cambodia by the Cambodian Rehabilitation and Development Board (CRDB) of the Council for the Development of Cambodia (CDC), identifies the interest rate associated with this loan as being variable; however, this appears to be a typographical error.
Sources & References
- Overview on Transport Infrastructure Sectors in the Kingdom of Cambodia (4th Edition) 2012
- CRBC SUCCESSFULLY SIGNS THE COMMERCIAL CONTRACTS FOR TWO PROJECTS IN CAMBODIA
- CDC Project of National Road 1577
- 驻柬使馆经济商务参赞李岸同韶肯副首相共同出席1577号公路启用仪式
- Project/Program Information and Implementation Arrangements
- Overview on Transport Infrastructure Sectors in the Kingdom of Cambodia (5th Edition)
- 中国路桥承建的柬埔寨1577号公路开工
- 驻柬埔寨大使王文天赴我援柬有关项目和重点投资企业考察及安全巡视
- 中国优买贷款项目柬埔寨1577号公路启用
- Road From Battambang to Khmer-thai Border Officially Open
- RAMP Baseline Benefit Monitoring and Evaluation Report
- China Overseas Development Finance
- National Road No. 1577 Project/Program Information and Implementation Arrangements 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
Cambodian Ministry of Economy and Finance
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