Active Development AidData Chinese Aid

China Eximbank provides $40 million loan to Mecanagro for purchase of agricultural equipment and agricultural modernization activities

$40M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Empresa Nacional de Mecanização Agrícola (Mecanagro)
Country	Angola
Start Date	Jan 01, 2012
End Date	Nov 23, 2029
Duration	6,536 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65051`

Grant Description

China Eximbank provides $40 million loan to Mecanagro for purchase of agricultural equipment and agricultural modernization activities In January 2012, China Eximbank agreed to issue a $40 million loan to the Empresa Nacional de Mecanização Agrícola (Mecanagro) — the state-owned agricultural agency in Angola — to facilitate the acquisition of tractors, support the repair of agricultural machinery, construct workshops, and provide training to Mecanagro technicians.

📋 Loan / Grant Terms

💰 Loan Amountterms are unknown

It is unclear whether these funds were ever disbursed.

Mecanagro was created in January 2011 and it specializes in preparing land for farming, construction of water wells, land clearing and ground leveling.

📋 Staff Comments

The Macau Hub article suggests this loan was issued through a larger credit line from China Eximbank, but the specific credit line that was utilized is unknown. No official sources confirm this claim.

📚 Sources & References

Angola Perfil do Sector Privado do País
DUTCH AGRIFOOD PRIVATE SECTOR INVOLVEMENT IN ANGOLA Developing Angolan-Dutch private sector cooperation
Angola’s Mecanagro to be modernised using loan from the ExIm Bank of China 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.