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China Eximbank provides $760.4 million loan for Luachimo Hydroelectric Power Transmission System Construction Project (Linked to Record ID#73464)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | May 15, 2018 |
| End Date | Sep 13, 2030 |
| Duration | 4,504 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65154 |
Grant Description
China Eximbank provides $760.4 million loan for Luachimo Hydroelectric Power Transmission System Construction Project In May 2018, China Eximbank and the Government of Angola were negotiating a $760.4 million loan agreement for the Luachimo Hydroelectric Power Transmission System Construction Project.
The parties subsequently signed a $760.4 million facility (loan) agreement for the Luachimo Hydroelectric Power Transmission System Construction Project.
However, it is known that loan was backed by a Sinosure credit insurance policy. The $760.4 million loan had no principal amount outstanding as of June 30, 2024.
The purpose of the project was to construct an electricity transmission system to evacuate (transport) power from the Luachimo hydroelectric power plant (also spelled Lauchimo hydroelectric power plant). The project reportedly encountered significant implementation delays due to the Covid-19 pandemic.
Staff Comments
- The construction of the Luachino dam was originally financed with a $180 million loan from ICBC (as captured via Record ID#73464).
- The project is also known as the Luachimo Transport System Construction Project.
Sources & References
- Angola bets on FOCAC 2018
- Angola e China negoceiam uma nova linha de crédito
- THE REPUBLIC OF ANGOLA U.S.$500,000,000 9.375 per cent. Notes due 2048
- 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
- PLN signs $615m loan deals, workers continue rally
- 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
- Work on Luachimo Dam should be completed next year
- Luachimo Dam Completed By 2021, 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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