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CDB provides $60 million loan for 68.8 km Lucala-Malanje-Saurimo Section and Cacuso-Malange (Lot 2) Section of the EN230 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 | Jul 23, 2026 |
| Duration | 3,698 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73634 |
Grant Description
CDB provides $60 million loan for 68.8 km Lucala-Malanje-Saurimo Section and Cacuso-Malange (Lot 2) Section of the EN230 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 $60 million loan in 2016 for the 68.8 km Lucala-Malanje-Saurimo Section and Cacuso-Malange (Lot 2) Section of the EN230 Road Rehabilitation Project.
The proceeds of this loan were used to finance a $61,830,000 commercial contract with China Railway 20 Bureau Group Corporation (CR20).
The project involved the rehabilitation of two road segments (measuring 68.8 km in length) in Malanje Province: one that runs from Lucala to Saurimo via Malanje and another that runs from Cacuso to Malange (Lot 2). The road section was officially began construction on August 24, 2020. 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 02 Cacuso (Intersecção EN 322)/ Malanje, na Província de Malanje.
- The $15 billion facility agreement (captured in Record ID#66847) is fully disbursed.
Sources & References
- Chinese Loans to Africa Database
- Iª Série
- 安哥拉马兰热省市政项目和公路修复项目举行开工典礼
- Road Rehabilitation Project of EN 230
- Lucala-Cacuso Section
- Republic of Angola 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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