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CDB provides $8 million loan for 65 km Catchiungo-Chinhama Road Rehabilitation Project (Linked to Record ID#65719 and #65751)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jan 01, 2016 |
| End Date | Oct 27, 2032 |
| Duration | 6,144 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 65755 |
Grant Description
CDB provides $8 million loan for 65 km Catchiungo-Chinhama Road Rehabilitation Project 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 $8 million loan in 2016 for the 65 km Catchiungo-Chinhama Road Rehabilitation Project.
The proceeds of this loan were used to finance a $58,479,823.89 commercial contract with China Railway 20 Bureau Group Corporation (CR20).
The project involved the rehabilitation of a 65 km road between Catchiungo (Katchiungo) and Chinhama in Huambo Province. It commenced in September 2016 and it was completed on October 15, 2018. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.
Staff Comments
1. The Chinese project title is 卡旗古-西俩姆(Catchiungo-Chinhama)公路. The Portuguese project title is Reabilitação da Estrada Catchiungo/Chinhama, na Província do Huambo.
Sources & References
- Africa Research Bulletin
- ANGOLAN ENERGY SECTOR
- Angolan Energy Sector
- Monitor Infrastrutture e Costruzioni
- Angola awards contracts to companies from China
- 二十局安哥拉卡旗古公路全线贯通
- 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
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