Loading grant details…
CDB provides $48 million loan for repairing the Xinge/Lubalo road (Linked to Record ID#66847 and #65751)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jan 01, 2016 |
| End Date | Mar 20, 2026 |
| Duration | 3,731 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65753 |
Grant Description
CDB provides $48 million loan for repairing the Xinge/Lubalo road On December 9, 2015, China Development Bank (CDB) entered into a $15 billion facility agreement with the Government of Angola (see Record ID#66847).
The facility is an oil prepayment facility with repayments being serviced through receivables from a designated oil contract. The facility agreement has a maturity of 12-years and its availability period expired on December 9, 2017.
One of the subsidiary loans approved through this facility was a $48 million loan in 2016 for the Xinge-Lubalo Road Rehabilitation Project.
The proceeds of this loan were used to finance a $59,421,699.45 commercial contract with China National Machinery Industry Corporation Group (SINOMACH). The project involved the rehabilitation of the Xinge-Lubalo road within Lunda Sul Province. This project entered implementation, but its precise implementation start and end dates are unknown.
See Record ID#65751 for other construction projects financed through the 2015 CDB facility.
Staff Comments
1. The Portuguese project title is Reabilitação da Estrada Xinge/Lubalo, na Província da Lunda Sul.
Sources & References
- Africa Research Bulletin
- ANGOLAN ENERGY SECTOR
- Angolan Energy Sector
- Monitor Infrastrutture e Costruzioni
- Angola awards 69 contracts under China’s credit line
- Iª Série
- Chinese Loans to Africa Database
- MEMORANDUM N° 16/2016 (25/01/2016) 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 GrantQuick Summary
Related Grants
