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CDB provides loan for Cabo Ledo-Lobito Section (Lot 5) and Ponte do Rio Eval-Ponte do Rio Culango Section of EN100 Road Rehabilitation Project (Linked to Record ID#66847 and #65751)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Jan 01, 2016 |
| End Date | Jul 30, 2029 |
| Duration | 4,959 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73631 |
Grant Description
CDB provides loan for Cabo Ledo-Lobito Section (Lot 5) and Ponte do Rio Eval-Ponte do Rio Culango Section of EN100 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 loan in 2016 for the Cabo Ledo-Lobito Section (Lot 5) and Ponte do Rio Eval-Ponte do Rio Culango Section of EN100 Road Rehabilitation Project.
The proceeds of this loan were used to finance a $36,776,770.96 commercial contract with China National Machinery Industry Corporation Group (SINOMACH).
The project involved the rehabilitation of two road segments along the EN100 in Benguela Province: a segment between Cabo Ledo and Lobito (Lot 5) and a segment between Ponte do Rio Eval and Ponte do Rio Culango. The project reportedly entered implementation, but its precise implementation start and end dates are unknown.
See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73630 and Record ID#73638 for other sections of the EN100 Road Rehabilitation Project.
Staff Comments
The Portuguese project title is Reabilitação da EN 100 - Troço: Cabo Ledo/Lobito - Lote 05 - Ponte do Rio Eval/ Ponte do Rio Culango, na Província de Benguela. The $15 billion facility agreement (captured in Project ID#66847) is fully disbursed.
Sources & References
- Iª Série
- 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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