Loading grant details…
China Eximbank provides RMB 1.7 billion concessional loan for National Broadband Infrastructure Upgrading Project
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Government of Angola |
| Country | Angola |
| Start Date | Oct 24, 2023 |
| End Date | Sep 10, 2028 |
| Duration | 1,783 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95330 |
Grant Description
China Eximbank provides RMB 1.7 billion concessional loan for National Broadband Infrastructure Upgrading Project On January 11, 2023, China Eximbank and the Government of Angola signed a $248 million preferential loan framework agreement for the National Broadband Infrastructure Upgrading Project.
Then, in October 2023, China Eximbank and the Government of Angola signed a ¥ 1,736,207,810.54 loan agreement for the National Broadband Infrastructure Upgrading Project.
No source of collateral was pledged in support of the loan.
It is also known that the borrower is expected to use the proceeds of the loan to finance a commercial contract with Sinohydro Corporation Ltd., which was signed in July 2022.
The project involves the installation of a new 2,000-kilometer terrestrial fiber optic cable in Angola, the laying of a submarine fiber optic cable that connects to Cabinda Province, and the modernization of the country's core telecommunications network facilities. Upon completion, the project is expected to bring high-speed digital infrastructure to Angola’s remote areas.
Sinohydro Corporation Ltd. is the EPC contractor responsible for project implementation.
Staff Comments
- The Chinese project title is 安哥拉国家级ICT基础设施项目 or 安哥拉国家宽带项目. The Portuguese project title is Projecto de Implementação da Rede Nacional de Banda Larga.
- The ¥1,736,207,810.54 face value of the loan is identified in Presidential Order No. 254/23 of 25th October. The commitment date of this loan is also estimated based on the issuance date of this order.
- The borrowing terms of the loan are drawn from the World Bank's Debtor Reporting System. See https://www.dropbox.com/scl/fi/rqvqm4e62wf56yq8w14xi/Official-sector-PRC-borrowings-and-borrowings-terms-for-Angola-IDS-December-2024.xlsx?rlkey=xlk5h50qn2f7ho3pg7km18948&dl=0
Sources & References
- 中国资助安哥拉宽带网络建设2.49亿美元
- 安哥拉国家级ICT基础设施项目获中国优惠贷款
- 安哥拉国家级ICT基础设施项目获中国优惠贷款
- China financia Usd 249 milhões para Rede Nacional de Banda Larga
- World Insights: China-financed projects yield new opportunities in Angola, experts say
- Angola Broadband Network (2000KM) Upgrade
- Projecto Nacional De Banda Larga Já Tem Financiamento Garantido, https://www.novojornal.co.ao/economia/interior/governo-assina-emprestimo-de-248-milhoes-usd-para-aquisicao-de-equipamentos-e-servicos-para-o-projecto-nacional-de-banda-larga-115524.html, “一带一路”上的中非友好合作印记 ——中国电建东南非区域总部十周年发展纪实
- China provides USD249m funding for Angolan national broadband network
- Chexim agrees Angolan broadband loan
- IDS Official Sector and Private Sector PRC Loan Commitments in 2023
- Official sector PRC borrowings and borrowings terms for Angola IDS December 2024
- CHINA FINANCIA USF 249 MILHÕES PARA REDE NACIONAL DE BANDA LARGA
- China financia 249 milhões de dólares para Banda Larga em Angola
- DIÁRIO DA REPÚBLICA ÓRGÃO OFICIAL DA REPÚBLICA DE ANGOLA Preço deste número Kz: 850,00 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
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
