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CDB provides loan for Camucuio Water Supply System Construction Project (Linked to Record ID#66847 and #65748)

Funder	China Development Bank (CDB)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Jan 01, 2016
End Date	Jan 26, 2027
Duration	4,043 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73546`

Grant Description

CDB provides loan for Camucuio Water Supply System Construction 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 loan in 2016 for the Camucuio Water Supply System Construction Project.

The proceeds of this loan were used to finance a $9,743,556.42 commercial contract with China Machinery Engineering Corporation (CMEC). The project involved the construction of a new water supply system in the town of Camucuio within Namibe Province. This project entered implementation, but its precise implementation start and end dates are unknown.

See Record ID#65748 for other water and energy projects financed through the 2015 CDB facility.

📋 Staff Comments

The Portuguese project title is Construção de Novo Sistema de Abastecimento de Água de Camucuio, na Província do Namibe. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed. SAIS-CARI identifies the face value of the loan that supported the Camucuio Water Supply System Construction Project as $10 million, but this value exceeds the value of the commercial contract.

📚 Sources & References

PRINCIPAIS PERSPECTIVAS DO SECTOR DAS ÁGUAS NO ÂMBITO DO PROGRAMA NACIONAL DE DESENVOLVIMENTO
Iª Série
Ministério determina encerramento de sistema de água
四十春秋谱华章砥砺前行创辉煌
Chinese Loans to Africa Database, 40-Year Amazing Development Underpins New Glories
CMEC 2017 Social Responsibility Report 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.