Active Mixed AidData Chinese Aid

CDB provides $34 million loan for Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the 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	Aug 05, 2030
Duration	5,330 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73638`

Grant Description

CDB provides $34 million loan for Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the 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 $34 million loan in 2016 for the Ledo-Lobito (Lot 1) Section and Cabo Ledo-Rio Longa Bridge Section of the EN100 Road Rehabilitation Project. The proceeds of this loan were used to finance a $35,471,053.09 commercial contract with Qingjian Group Co, Limited.

The project involved the rehabilitation of two road segments along the EN100 in Luanda Province: one that runs from Ledo to Lobita (Lot 1) and another that runs from Cabo Ledo to Rio Longa Bridge. See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73630 and Record ID#73631 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 01 - Cabo Ledo/ Ponte sobre o Rio Longa, na Província de Luanda.
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.