Completed Mixed AidData Chinese Aid

China Eximbank provides a $208.9 million preferential buyer's credit for Chom Chao-Bek Kus-Kampot Section of National Road No. 3 (NR 3) Construction Project

$208.92M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Cambodia
Country	Cambodia
Start Date	Jan 11, 2018
End Date	Feb 03, 2028
Duration	3,675 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`61161`

Grant Description

China Eximbank provides a $208.9 million preferential buyer's credit for Chom Chao-Bek Kus-Kampot Section of National Road No. 3 (NR 3) Construction Project On January 11, 2018, under the witness of Chinese Premier Li Keqiang and Prime Minister of Cambodia Hun Sen, the Export-Import Bank of China and the Government of Cambodia signed a $208,915,450 preferential buyer's credit (PBC) agreement for the Chom Chao-Bek Kus-Kampot Section of National Road No. 3 (NR 3) Construction Project.

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period7 years

💹 Interest Rate2%

The proceeds of the PBC were to be used by the borrower to partially finance a $215 million commercial (EPC) contract between the Government of Cambodia’s Ministry of Public Works and Transport (MPWT) and China Road and Bridge Corporation (CRBC).

According to the Government of Cambodia’s ODA Database, China Eximbank made three loan disbursements between 2019 and 2021: a $114,903,498 loan disbursement in 2019, a $31,337,317 loan disbursement in 2020, and a $10,445,773 loan disbursement in 2021. The lender was originally scheduled to make an additional disbursement worth $10,445,773 in 2022.

The purpose of the project was to expand and reconstruct a 134.8 kilometer (km) stretch of National Road No. 3 (NR3), with a designed speed of 80 km/h. NR3 links the capital city of Phnom Penh and the southwestern coastal province of Kampot.

The 134.8 km expanded road starts at the Chom Chao roundabout in Phnom Penh's western suburb and runs through Kandal, Kampong Speu and Takeo provinces.

The project also sought to improve the access conditions of the Phnom Penh-Kombu-Sihanouk Port and improving the road network structure in southwestern Cambodia. China Road and Bridge Corporation (CRBC) was the EPC contractor responsible for project implementation. Guangzhou Wanan Construction Supervision Co., Ltd. was the contractor responsible for project supervision.

Construction officially began on May 7, 2018. The project was originally expected to reach completion within 48 months (May 7, 2022). However, the project was completed ahead of schedule. The road was completed and opened to traffic on March 2, 2022

📋 Staff Comments

This project is also known as Phase II of National Road No. 3 (NR 3) Construction Project. The Chinese project title is 的柬3号公路改扩建项目.
As of May 2022, in the China’s Overseas Development Finance Dataset maintained by Boston University's Global Development Policy Center, the face value of the China Eximbank loan that supported this project is identified as $215 million. This appears to be a reference to the monetary value of the underlying commercial contract being financed by the loan and not the monetary value of the loan itself. AidData relies on the face value of the loan ($176,490,468) that is recorded by the borrower (the Government of Cambodia) in its ODA Database.

📚 Sources & References

List of documents to be signed during the Official Visit of H.E. Li Keqiang
Premier of State Council of the People’s Republic of China to Cambodia on 11 January 2018
Information and Implementation Arrangements
柬埔寨3号公路改扩建项目
中资企业目前在柬埔寨工程项目详情
Reconnecting Asia Project Database- Row 725
The Export-Import Bank and the Cambodian Ministry of Economy and Finance Signed the Second Phase of the 230kv Transmission Power and Transformation Project and the No.3 Highway Project Loan Agreement of the State Grid of Cambodia
熊波大使同洪森首相共同出席3号公路改扩建工程开工仪式
熊波大使同洪森首相共同出席3号公路改扩建工程开工仪式
中国新闻网：中国路桥承建柬埔寨3号公路改扩建工程动工
中国路桥承建的柬3号公路改扩建项目正式开工
中国援柬3号公路改扩建项目正式开工
熊波大使同洪森首相共同出席3号公路改扩建工程开工仪式
中国援柬3号公路改扩建项目正式开工
中企在柬埔寨竟有这么多项目，全面了解一下！
Cambodia’s National Road 6: Case Study of Public Procurement in Cambodia
中国援柬3号公路改扩建项目举行通车典礼
China-funded road connecting Cambodia's capital to coastal province inaugurated
China-funded road connecting Cambodia’s capital to coastal province inaugurated
Project/Program Information and Implementation Arrangements
Inauguration of NR3, a New Achievement of Cambodia-China Relations
China-funded road connecting Cambodia's capital to coastal province inaugurated
China-funded road connecting Cambodia's capital to coastal province inaugurated
Cambodia inaugurates China-funded national road connecting capital, coastal province 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.