Active Mixed AidData Chinese Aid

CDB provides $38 million loan for Breakwater at Cabinda Port 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	Dec 16, 2033
Duration	6,559 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`73658`

Grant Description

CDB provides $38 million loan for Breakwater at Cabinda Port 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 $38 million loan in 2016 for the Breakwater at Cabinda Port Project.

The proceeds of this loan were used to finance a $65 million commercial contract with China Gezhouba Group Company, Limited (CGGC). The project involved the construction of a breakwater at the Port of Cabinda. The project reportedly entered implementation in 2016 and finished around 2018. See Record ID#65751 for other construction projects financed through the 2015 CDB facility.

📋 Staff Comments

The Portuguese project title is Construção do Quebramar do Porto de Cabinda.
The $15 billion facility agreement (captured via Record ID#66847) is fully disbursed.

📚 Sources & References

Iª Série
Chinese Loans to Africa Database
THE REPUBLIC OF ANGOLA U.S.$500,000,000 9.375 per cent. Notes due 2048
PORT OF CABINDA - BREAKWATER AND WHARF 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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