Active Mixed AidData Chinese Aid

CDB provides $27 million loan for 37 km Cruzamento-Cassongue 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	Nov 24, 2032
Duration	6,172 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73636`

Grant Description

CDB provides $27 million loan for 37 km Cruzamento-Cassongue 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 $27 million loan in 2016 for the 37 km Cruzamento-Cassongue Road Rehabilitation Project. The proceeds of this loan were used to finance a $31,376,000 commercial contract with Qingjian Group Co, Limited. The project involved the rehabilitation of a 37 km road from Cruzamento to Cassongue in Cuanza-Sul Province.

See Record ID#65751 for other construction projects financed through the 2015 CDB facility.

📋 Staff Comments

The Portuguese project title is Reabilitação da Estrada Cruzamento/Cassongue, na Província do Cuanza-Sul.
The $15 billion facility agreement (captured via Record 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.