Completed Mixed AidData Chinese Aid

CDB provides $26 million loan for Cuíto Airport Construction and Equipment Project (Linked to Record ID#66847 and #65751)

Funder	China Development Bank (CDB)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Jul 06, 2016
End Date	Nov 19, 2026
Duration	3,788 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73657`

Grant Description

CDB provides $26 million loan for Cuíto Airport Construction and Equipment 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 $26 million loan in 2016 for the Cuito Airport Construction and Equipment Project.

The proceeds of this loan were used to finance a $45 million commercial contract with China Railway 20 Bureau Group Corporation (CR20).

The project involved the construction and equipping of the airport of the city of Cuíto (Kuito) in the Province of Bié.

More specifically, it involved the construction of a new terminal building, a VIP building, an air traffic control building and a freight station. Construction began in February 2017 and the airport was officially inaugurated on October 18, 2019. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.

📋 Staff Comments

The Portuguese project title is Construção e Apetrechamento da Aerogare da Cidade do Cuíto, na Província do Bié.
The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.

📚 Sources & References

Iª Série
CRCC Completes Two Projects in Angola
Angolan president inaugurates Chinese-built airport
Angola hires Chinese company to expand Kuito Airport
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.