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CDB provides $28 million loan for Malanje River Dredging Project
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jul 17, 2017 |
| End Date | Feb 23, 2030 |
| Duration | 4,604 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73463 |
Grant Description
CDB provides $28 million loan for Malanje River Dredging Project in 2017 In 2017, China Development Bank (CDB) and the Government of Angola signed a $28 million loan agreement for the Malanje River Dredging Project.
The proceeds of the loan will be used by the borrower to partially finance a $33 million commercial contract with China CAMC Engineering Co.
This loan was reportedly approved through a larger CDB line of credit, but it is not known which specific line of credit supported this project.
This project involves the rebuilding and clearing of the Malanje River.
More specifically, it involves de-silting work, rain drainage works on the banks of the river, and repair and improvement of a 100 meter long weir.
The project is expected to benefit nearby neighborhoods — specifically, Camona, Cahála, Caxito and Cafucufuco — that are affected by river flooding. China CAMC Engineering Co, a subsidiary of Sinomach, is the contractor responsible for implementation. Construction began on March 8, 2019. The expected duration of the construction period was 12 months.
Staff Comments
This project is also known as the Malanje De-silting Dredging Project. The Portuguese project title is Projecto de Desassoreamento do rio Malanje.This project might be funded by one of 2 CDB MLFAs captured by AidData, a 2014 CDB MLFA (#66806) and a 2015 CDB MLFA (#66847).
Sources & References
- CAMC start Angolan project
- History of Development 2019
- China CAMC Engineering Contracts Two Projects in Angola
- Moradores à beira do rio Malanje vão ser realojados nas “500 Casas”
- Chinese Loans to Africa Database 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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