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China Eximbank provides loan for PALOP Headquarters Building Construction Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | May 09, 2014 |
| End Date | Jan 30, 2029 |
| Duration | 5,380 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73912 |
Grant Description
China Eximbank provides loan for PALOP Headquarters Building Construction Project On May 9, 2014, China Eximbank and the Government of Angola signed a loan agreement for the PALOP Headquarters Building Construction Project.
The proceeds of the loan were used by the borrower to finance a $24.9 million commercial contract with an unknown firm.
The purpose of the project is to build the headquarters for the Economic and Commercial Training Institute of the African Portuguese Speaking Countries Community (PALOP) in the city of Lubango within Huíla province.
The project involves the construction of two buildings with three and two floors, with a capacity to accommodate 2,000 students in 60 dormitories to accommodate students and teachers from African countries with Portuguese as an official language.
The PALOP will will teach courses in Finance, Accounting, Hospitality and Tourism, unlike its previous purpose of focusing only on economic and financial management training.
Construction began in 2016 and the institute was scheduled to open in September 2020 (when Angola will assume the presidency of the CPLP). The headquaters were inagurated in September 2020.
Staff Comments
The Chinese project title is 非洲葡语国家经济技术管理培训学院项目. The Portuguese project title is Instituto de Formação de Gestão Económica e Comercial dos Países Africanos de Língua Portuguesa (PALOP).
Sources & References
- Instituto de formação dos PALOP construído na Huíla
- Eximbank financia centenas de projectos
- INSTITUTO DE GESTÃO ECONÓMICA E FINANCEIRA DOS PALOP ARRANCA EM ANGOLA
- 安哥拉卢班戈成为非洲葡语国家的职业技术学院所在地
- PALOP inaugura Instituto de Finanças na Huíla
- Eximbank financia más de cien proyectos sociales y económicos
- Chinese Loans to Africa Database
- 中国进出口银行与安哥拉财政部签署三份单项贷款协议
- Eximbank disponibiliza 170 milhões de dólares para projectos no interior do país
- Banco da China empresta USD 17 milhões, [2020-03-12] Lubango in Angola, becomes home to technical and vocational institute of the Portuguese-speaking African countries 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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