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CDB provides loan for Phase 2 of the Cabinda Campus of 11 de Novembro University Project (Linked to Record ID#66847)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jan 01, 2016 |
| End Date | Oct 22, 2032 |
| Duration | 6,139 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 66869 |
Grant Description
CDB provides loan for Phase 2 of the Cabinda Campus of 11 de Novembro University Project In December 2015, China Development Bank and the Government of Angola signed a $15 billion oil prepayment facility agreement (see Record ID#66847). All of the subsidiary loans approved through this facility have a 12-year maturity.
One of the subsidiary loans approved through the facility agreement was a loan in 2016 for Phase 2 of the Cabinda Campus of 11 de Novembro University Project.
The proceeds of this loan were used by the borrower to partially finance a $23,375,000.00 commercial contract with China Road and Bridge Corporation (CRBC).
The project intends to construct 3 university departments (Faculties of Economics, Medicine, and ISCED) on the Cabinda Campus of 11 de Novembro University in the city of Cabinda.
Staff Comments
The Portuguese project title is Construção do Campus Universitário (Fase 2), Construção de 3 Unidades Orgânicas (Faculdades de Economia, de Medicina e ISCED), na Cidade de Cabinda. SAIS-CARI identifies the face value of the loan that supported Phase 2 of the Cabinda Campus of 11 de Novembro University Project as $50 million, but this value exceeds the value of the commercial contract. Therefore, for the time being, AidData does not record a face value (transaction amount) for this loan.
Sources & References
- Minister of Finance pledges payment of structuring works in Cabinda
- Construction minister ensures conclusion of works in Cabinda
- 中国交建签约4个海外项目
- Iª Série
- MINISTROS DO PLANEAMENTO E DA CONSTRUÇÃO TRABALHAM EM CABINDA
- Chinese Loans to Africa Database
- China-Africa Trade and Economic Cooperation Special 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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