Completed Mixed AidData Chinese Aid

CDB provides $56 million loan for Alto Dondo-Waco Kungo-Rio Keve Bridge (Lot 4) Section and São Mamede-Waco Kungo Section of the EN120 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	May 25, 2033
Duration	6,354 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73656`

Grant Description

CDB provides $56 million loan for Alto Dondo-Waco Kungo-Rio Keve Bridge (Lot 4) Section and São Mamede-Waco Kungo Section of the EN120 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 $56,350,000 loan in 2016 for the Alto Dondo-Waco Kungo-Rio Keve Bridge (Lot 4) Section and São Mamede-Waco Kungo Section of the EN120 Road Rehabilitation Project.

The proceeds of this loan were used to finance a $35,471,053.09 commercial contract with China National Machinery Industry Corporation Group (SINOMACH).

The project involved the rehabilitation of two road segments along the EN120 in Cuanza-Sul Province (measuring 57.5 km in length): one that runs from Alto Dondo to Rio Keve Bridge via Waco Kungo and another that runs from São Mamede to Waco Kungo. The road section was officially completed around May 14, 2019.

See Record ID#65751 for other construction projects financed through the 2015 CDB facility. See Record ID#73635 and Record ID#73637 for other sections of the EN120 Road Rehabilitation Project.

📋 Staff Comments

The Portuguese project title is Reabilitação da EN 120 - Troço Alto Dondo/Waco Kungo/Ponte do Rio Keve: Lote 04 - São Mamede/Waco Kungo, na Província do Cuanza-Sul.
The $15 billion facility agreement (captured in Record ID#66847) is fully disbursed.
SAIS-CARI identifies the face value of the loan that supported the Alto Dondo-Waco Kungo-Rio Keve Bridge (Lot 4) Section and São Mamede-Waco Kungo Section of the EN120 Road Rehabilitation Project as $102 million, but this value exceeds the value of the commercial contract.

📚 Sources & References

Iª Série
Chinese Loans to Africa Database
中江国际在安哥拉实施的国道120道路修复项目竣工通车 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.