Loading grant details…
CDB provides $53 million loan for Lucala-Malage-Saurimo Section (Lot 1) and Lucala-Cacuso Section of EN322 Road Rehabilitation Project (Linked to Record ID#66847 and #65751)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jun 07, 2016 |
| End Date | May 10, 2028 |
| Duration | 4,355 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73629 |
Grant Description
CDB provides $53 million loan for Lucala-Malage-Saurimo Section (Lot 1) and Lucala-Cacuso Section of EN322 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 $53 million loan in 2016 for the Lucala-Malage-Saurimo Section (Lot 1) and Lucala-Cacuso Section of EN322 Road Rehabilitation Project.
The proceeds of this loan were used to finance a $58,055,000 commercial contract with China Bengbu Corporation for International Tech-Economic Corporation (CBITEC).
The project involved the rehabilitation of two road segments (measuring 60 km in length) along the EN322: a segment between Lucala, Malage, and Saurimo and a segment between Lucala and Cacuso.
The project reportedly entered implementation in February 2017, but its precise implementation start and end dates are unknown. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.
Staff Comments
- The Portuguese project title is Reabilitação da EN 230 - Troço: Lucala/Malanje/Saurimo: Lote 01 - Lucala/Cacuso (Intersecção EN 322). The Chinese project title is 马兰热省Lucala-Cacuso段国道修复项目.
- The $15 billion facility agreement (captured in Record ID#66847) is fully disbursed.
Sources & References
- Iª Série
- FALTA DE RIGOR CONDICIONA CONCLUSÃO DO TROÇO LUCALA/CACUSO
- Extraordinary Elegant Demeanour-CBITEC’s National Road Project Reported by Televis#227;o Pública de Angola (TPA) Again
- Extraordinary Elegant Demeanour-CBITEC’s National Road Project Reported by Televis#227;o Pública de Angola (TPA) Again
- Chinese Loans to Africa Database
- 安哥拉EN230国道1标段卢卡拉至卡库索道路修复工程项目
- 安哥拉建设部部长卡洛斯一行视察中国电建马兰热公路项目 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
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
