Completed Development AidData Chinese Aid

CDB provides $88.638 million loan for Camacupa Agro-industrial Farm Project (Linked to Record ID#67)

Funder	China Development Bank (CDB)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Jan 01, 2012
End Date	Nov 28, 2031
Duration	7,271 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`64148`

Grant Description

CDB provides $88.638 million loan for Camacupa Agro-industrial Farm Project On April 18, 2011, China CAMC Engineering Co., Ltd. (CAMCE) and Angola’s Ministry of Agriculture, Rural Development and Fishery signed a $88.638 million commercial contract for the Camacupa Agro-industrial Farm Project.

Then, in 2012, China Development Bank approved a $88.638 million subsidiary loan for this project through a larger $1.5 billion common terms agreement that it signed with the Government of Angola (captured via Record ID#67).

The proceeds of the loan were to be used by the borrower to finance the commercial contract that was signed on April 18, 2011. This project involved the construction of the Camacupa agro-industrial farm in Bié Province.

More specifically, it involved the cultivation of 5,000 hectares of maize and soybeans, the installation of 400 hectares of irrigation facilities, the construction of a maize flour factory, and the provision of agricultural equipment. Construction began sometime in 2012. However, the project encountered several problems and delays related to to land expropriation during construction.

On April 18, 2013, the Angolan Minister of Agriculture, Governor of Bié Province, and Mayor of Camacupa District inspected the project. Then, on March 11, 2014, a major milestone was achieved when four, 5,000 ton grain silos were successfully installed. The farm was officially handed over to the Angolan authorities on July 6, 2017.

📋 Staff Comments

The Chinese project title is 卡玛库巴农场. The Portuguese project title is Fazenda Agro-Industrial do Camacupa.
According to the World Bank Group's International Finance Corporation, the Fundo Soberano de Angola was the 'responsible entity' for the financing provided by CDB (see ''CREATING MARKETS IN ANGOLA''). However, it is unclear if this means that Fundo Soberano de Angola was the borrower. This issue warrants further investigation.
In order to eliminate the risk of double-counting financial commitments, AidData does not record a transaction value (commitment amount) for the $88.638 million CDB loan that supported the Camacupa Agro-industrial Farm Project. This borrowing (drawdown) under the $1.5 billion common terms agreement is almost certainly already captured via Record ID#67.

📚 Sources & References

2013, “国机集团在非洲”系列报道之三
安哥拉卡玛库巴农场项目
MINISTER OF AGRICULTURE OF ANGOLA INSPECTED CAMCE CAMACUPA AGRI-INDUSTRY PROJECT
History of Development 2017
Histoire 2017
Chinese company CAMC Engineering prepares future agro-industrial unit in Angola
Chinese Loans to Africa Database
NEITHER 'FRIENDSHIP FARM' NOR 'LAND GRAB': CHINESE AGRICULTURAL ENGAGEMENT IN ANGOLA
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
CAMACUPA AGRO-INDUSTRIAL FARM PROJECT IN ANGOLA
CREATING MARKETS IN ANGOLA
About CAMCE/History of Development/2011 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

Government of Angola

Interested in applying for this grant?

Complete our application form to express your interest and we'll guide you through the process.

Apply for This Grant