Completed Mixed AidData Chinese Aid

CDB provides $31 million loan for Cabo Ledo-Lobito Road (Lot 4) and Sumbe-Ponte do Rio Eval of EN110 Road Rehabilitation Project (Linked to Record ID#66847 and #65751)

Funder	China Development Bank (CDB)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Jul 06, 2016
End Date	Dec 09, 2029
Duration	4,904 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73628`

Grant Description

CDB provides $31 million loan for Cabo Ledo-Lobito Road (Lot 4) and Sumbe-Ponte do Rio Eval of EN110 Road Rehabilitation 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 $31 million loan in 2016 for the Cabo Ledo-Lobito Road (Lot 4) and Sumbe-Ponte do Rio Eval of EN110 Road Rehabilitation Project. The proceeds of this loan were used to finance a $58,476,975.15 commercial contract with Sinohydro Group, Limited.

The project involved the rehabilitation of two road segments (measuring 78.2 km in length) along the EN110 within the province of Cuanza-Sul: a segment between Cabo Ledo and Lobita and a segment between Sumbe and Ponte do Rio Eval. A groundbreaking ceremony took place on September 8, 2016.

It was originally envisaged that the project would reach completion by December 30, 2017; however, the project was ultimately completed on or around August 22, 2018. See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73573 and Record ID#73914 for other sections of the EN110 Road Rehabilitation Project.

📋 Staff Comments

The Portuguese project title is Reabilitação da EN 100 - Troço: Cabo Ledo/Lobito - Lote 04 - Sumbe/Ponte do Rio Eval, na Província do Cuanza-Sul. The Chinese project title is 中国电建安哥拉南宽扎省公路项目 or 安哥拉松贝至伊沃河桥公路修复项目.
The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.

📚 Sources & References

Iª Série
安哥拉松贝公路项目路基土方工程完工
安哥拉--松贝印象小记
中国电建安哥拉南宽扎省公路项目开工
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.