Completed Development AidData Chinese Aid

China Eximbank provides $67.629 million loan for Cuimba Agro-Industrial Development Project

$67.63M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Angola
Country	Angola
Start Date	May 09, 2014
End Date	Jan 20, 2032
Duration	6,465 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`43789`

Grant Description

China Eximbank provides $67.629 million loan for Cuimba Agro-Industrial Development Project On May 9, 2014, China Eximbank and the Government of Angola signed a $67,629,060 loan agreement for the Cuimba Agro-Industrial Development Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The proceeds of the loan were used by the borrower to partially finance a $79,563,100 commercial contract with China CAMC Engineering Co. Ltd.. This project involved the development of a 3,000 hectare farm in Cuimba in Zaire Province.

More specifically, it involved farmland reclamation and supporting irrigation facilities; construction of plant transportation infrastructure, operating roads and field workstations, pump stations and corn warehousing/drying/processing equipment; provision of vehicles and farming instruments required for production at the farm; construction of frozen processing plants, breeding farms, hatcheries, and feedstuff plants; other auxiliary facilities; and trial production of agricultural products and staff training.

China CAMC Engineering Co. Ltd. was the contractor responsible for implementation. The project commenced in August 2014.

The farm will be 3,000 hectares and will produce grains and it was officially handed over to the Angolan authorities on December 10, 2019.

📋 Staff Comments

This project is also known as the Guimba Agro-Industrial Development Project.The Chinese project title is 安哥拉库茵巴综合农场项目 or 安哥拉综合农场 or 安哥拉库茵巴农场.The Portuguese project title is Projecto de Desenvolvimento Agro-Industrial do Cuimba, na Província do Zaire.

📚 Sources & References

Chinese company prepares agro-industrial project in Angola’s Zaire province
NEITHER 'FRIENDSHIP FARM' NOR 'LAND GRAB': CHINESE AGRICULTURAL ENGAGEMENT IN ANGOLA, 1áCÂMARA RESOLUÇÃON2069/FP/2014 Processos nfs 293 e 294/PV/2014
Will Africa Feed China?
China’s Export Import Bank provides Angola with loan of US$170 million
Does China Prefer Only Weak States for Offshore Investments? A Case of Sino-African Agricultural Cooperation
Angola/China: Rubricados acordos de cooperação, 2016 White Paper on Green Finance The Export-Import Bank of China
Angola/China: Rubricados acordos de cooperação
中工国际安哥拉卡玛库巴综合农场项目收到最终移交证书
进出口银行贷款支持非洲农业发展
History of Development 2019
REPÚBLICA DE ANGOLA TRIBUNAL DE CONTA 1' CÂMARA
中国进出口银行与安哥拉财政部签署三份单项贷款协议
Despacho Presidencial no. 138/13
DR n.º 236 - 09.12.2013 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.