CDB provides $39.2 million for Cuito water supply system (Linked to Record ID#66847 and 65748)

CDB provides $39.2 million for Cuito water supply system 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 $39.2 million loan in 2016 for the Cuito Water Supply System Project.

The proceeds of this loan were used to finance a $39,226.415.09 commercial contract with China Railway 20th Construction Bureau Co., Limited (CR20). This project involved the construction of a new water supply system n the city of Cuito (Kuito).

More specifically, it involved the construction of a water treatment plant has a daily water supply capacity of 15,000 tons, which is four times larger than the original water plant. The project was expected to benefit more than 160,000 people in the city of Cuito. Construction began in July 2017 and thousands of local laborers were hired.

Also, more than 400 technicians were reportedly trained in machinery, measurement and maintenance. The project was completed on October 17, 2019. It was then handed over to the Angolan authorities in December 2019. This project is linked to Record ID#65748, the $2.1 billion in financing provided to water and energy sector projects.