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China Eximbank provides $690.2 million loan for Corimba Coast Road Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | May 15, 2018 |
| End Date | Jun 27, 2032 |
| Duration | 5,157 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65152 |
Grant Description
China Eximbank provides $690.2 million loan for Corimba Coast Road Construction Project In May 2018, China Eximbank and the Government of Angola were negotiating a $690.2 million loan agreement for the Corimba Coast Road Construction Project.
The parties subsequently signed a $690.2 million facility (loan) agreement for the Corimba Coast Road Construction Project.
However, it is known that loan was backed by a Sinosure credit insurance policy. The $690.2 million loan had no principal amount outstanding as of June 30, 2024. The purpose of the project is to construct the Corimba (Corumba) Coast Road. As of January 2025, AidData had not identified any evidence of project implementation.
Staff Comments
1. This project is also known as the Corumba Street Infrastructure Project.
Sources & References
- Angola - the times they are a changing: João Lourenço, infrastructure investment and moving forwards
- Angola and China prepare new credit line
- Angola to borrow $15.5 bln from China to finance developmental projects
- Angolan government negotiates new credit facilities with China
- Angola seeks $15bn from China for infrastructure
- Angola bets on FOCAC 2018
- THE REPUBLIC OF ANGOLA U.S.$500,000,000 9.375 per cent. Notes due 2048
- PLN signs $615m loan deals, workers continue rally
- Angola e China negoceiam uma nova linha de crédito
- Angola negotiates new financing and loans
- INSIDE AFRICA: Now is the time to invest in Africa
- China/África: Luanda e Pequim adiam negociações de cooperação para final de setembro - MIREX
- CRÉDITO: Angola negocia líneas de financiación con China y Europa
- Angola bets on FOCAC 2018
- 安哥拉政府与中国工商银行洽谈177亿美元新信贷安排
- 安哥拉与中国金融机构商讨逾155亿美元的融资
- Angola discusses US$15.5-bln in finance deals with ICBC and China’s export bankAngola discusses US$15.5-bln in finance deals with ICBC and China’s export bank, 0181R_1-2024-12-20.pdf 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
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