Active Mixed AidData Chinese Aid

China Eximbank provides $20.169 million buyer's credit loan for Luanda Hotel Construction and Rehabilitation Project

$20.17M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Angola
Country	Angola
Start Date	May 13, 2013
End Date	Jan 28, 2033
Duration	7,200 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67372`

Grant Description

China Eximbank provides $20.169 million buyer's credit loan for Luanda Hotel Construction and Rehabilitation Project On 13 May 2013, China Eximbank signed a financing agreement providing a $20,169,958.55 buyer's credit loan to the Government of Angola for the Luanda Hotel Construction and Rehabilitation Project.

📋 Loan / Grant Terms

💰 Loan Amountterms are unknown

Presidential Order No. 130/13 was issued on 9 December 2013 formally approving this BCL. It is unclear whether these funds were ever disbursed.

The purpose of this loan was to finance up to 85% of the $23,729,363 commercial contract signed between China National Electronics Import & Export Corporation (CEIEC or 中国电子进出口有限公司) and the Angola Tourist Promotion Institute (INFOTUR). It is unclear whether construction ever began.

📋 Staff Comments

Portuguese project title: Construção de um Hotel na Província de LuandaNo sources explicitly state that this is a buyer's credit loan. AidData assumes this is the case for the following reasons: (1) The loan is provided to a foreign borrower, (2) the loan is denominated in USD, (3) the financing amount covers 85% of the commercial contract which is typically observed of buyer's credit loans. However, it should be noted that SAIS-CARI's Chinese Loans to Africa Database characterizes this as just a loan.

📚 Sources & References

Resolucao No. 41/FP/2014. Processos No.s 31, 32, 33, 34 e 35/PV/2014
Chinese Loans to Africa Database
Despacho Presidencial no. 138/13
DR n.º 236 - 09.12.2013
RESOLUÇÃO N2041/FP/2014 Processos n.°` 031, 032, 033, 034 e 035/PV/2014, 1 á CÂMARA RESOLUÇÃO N2 075/PV/2014 Processos nfs 300 a 304/PV/2014 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.