Active Development AidData Chinese Aid

[Cancelled] China Development Bank provides $245 million loan for Access Road to New Luanda International Airport Construction Project

$245M USD

Funder	China Development Bank (CDB)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Jan 01, 2016
End Date	Sep 24, 2033
Duration	6,476 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65307`

Grant Description

[Cancelled] China Development Bank provides $245 million loan for Access Road to New Luanda International Airport Construction Project In 2016, China Development Bank reportedly issued a $245 million loan to the Government of Angola (through a broader credit line) for the Access Road to New Luanda International Airport Construction Project.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

The proceeds of the loan were to be used by borrower to partially finance a $695,114,410 commercial contract with China Tiesiju Civil Engineering (CTCE or CREC4). However, the Angolan Government cancelled that contract in October 2016.

The purpose of the project was to build an access road to the New Luanda International Airport and rehabilitation and expansion of the A4-Via Expresso Section of the EN230 Road.

The New Luanda International Airport is still under construction and it is located 40 kilometers southeast of the center of the capital, in the municipality of Icolo and Bengo.

📋 Staff Comments

This project is also known as the Rehabilitation of EN230 between Viana and the New Luanda/Catete International Airport. The Chinese project title is 建安哥拉国际机场“机场路”项目 or 通向新罗安达机场的通道 or 安哥拉新机场进场道路项目. The Portuguese project title is Construção da Rede de Estradas de Acesso ao Novo Aeroporto Internacional de Luanda. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it categorizes this project/loan as in “implementation’. AidData categorizes this project/loan as having been cancelled since the commercial contract that the CDB loan was supposed to finance was subsequently cancelled by the borrower.

📚 Sources & References

中国国家开发银行保证继续向安哥拉提供财政支持, [2017-02-15] China Development Bank guarantees continued financial support to Angola
New Luanda international airport in Angola expected to start operating in 2019/2020
President receives China Development Bank delegation
President receives China Development Bank delegation
Delegation of the China Development Bank is in Angola for talks
中国国家开发银行保证继续向安哥拉提供财政支持
Governo anula a construção de estrada para o novo aeroporto
Empresa chinesa vai construir estradas de acesso ao novo aeroporto de Luanda, em Angola, 【铁道建设报】建在海外的家，真温暖
Chinese Loans to Africa Database
BREVE RESENHA DE ALGUNS DIPLOMAS LEGAIS PUBLICADOS NO MÊS DE OUTUBRO
Presidential Order No. 272/16
Chinese company to build access roads to the new airport in Luanda
Angola
Government of Angola cancels public works contract with Chinese company 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.