Active Mixed AidData Chinese Aid

Bank of China provides $148.7 million buyer's credit loan for Luanda New International Airport Railway Branch Line Project (Linked to Record ID#67414, #65402)

$148.72M USD

Funder	Bank of China (BOC)
Recipient Organization	Government of Angola
Country	Angola
Start Date	Sep 04, 2018
End Date	Aug 12, 2029
Duration	3,995 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`65524`

Grant Description

Bank of China provides $148.7 million buyer's credit loan for Luanda New International Airport Railway Branch Line Project On September 4, 2018, Bank of China (BOC) and the Government of Angola signed a $148,721,360 buyer's credit loan (BCL) agreement for the Luanda New International Airport Railway Branch Line Project.

The BCL agreement entered into force on September 4, 2018 but it is unclear when the financing agreement itself was signed.

📋 Loan / Grant Terms

💰 Loan Amountare as follows: a 2

📅 Maturity15.6595 years

⏳ Grace Period2.6102 years

💹 Interest Rate6.0089%

Sinosure provided insurance for this loan.

The proceeds of the loan were to be used by the borrower to partially finance a $162,473,143 commercial (EPC) contract signed on July 10, 2017 between Angola’s Ministry of Transportation, China Hyway Group Limited, and Tianjin Oubaiwei Corp. Ltd.

The purpose of the project is to construct a 17.4 km rail link between New Luanda International Airport (also known as New Angola International Airport or NAIL) and Luanda City.

More specifically, it involves the construction of a second railway line between Baia station and NAIL that runs parallel to the existing Luanda Railway Line known as Caminho-de-Ferro de Luanda (CFL). China Hyway Group Limited and Tianjin Oubaiwei Corp. Ltd. are the EPC contractors responsible for implementation.

Construction began on July 10, 2017. Then, on February 3, 2022, the first 32-meter T beam of the airport bridge was laid. ICBC also financed the construction of this airport (as captured via Record ID#65402).

📋 Staff Comments

The Portuguese project title is Ramal Ferroviário de Ligação ao NAIL. The Chinese project title is 罗安达新国际机场铁路支线项目.
SAIS-CARI and Boston University identify the loan commitment year as 2017. AidData relies on the commitment year (2018) that is identified by Angola’s Ministry of Finance.
According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Angola as 6.0089% in 2018. AidData estimates the interest rate of the ICBC loan that supported the New Angola International Airport (NAIA) Construction Project by using this figure. See https://www.dropbox.com/scl/fi/qi2hvg1s05nsak3n1n83u/Private-Chinese-Loans-to-Angola-November-2023-Data-Extraction.xlsx?rlkey=0aq7jdxm29ynbw4yh1bn07c7m&dl=04. According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Angola was 15.6595-years in 2018. AidData estimates the maturity of the ICBC loan that supported the New Angola International Airport (NAIA) Construction Project by using this figure. See https://www.dropbox.com/scl/fi/qi2hvg1s05nsak3n1n83u/Private-Chinese-Loans-to-Angola-November-2023-Data-Extraction.xlsx?rlkey=0aq7jdxm29ynbw4yh1bn07c7m&dl=05. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Angola was 2.6102-years in 2018. AidData estimates the grace period of the ICBC loan that supported the New Angola International Airport (NAIA) Construction Project by using this figure. See https://www.dropbox.com/scl/fi/qi2hvg1s05nsak3n1n83u/Private-Chinese-Loans-to-Angola-November-2023-Data-Extraction.xlsx?rlkey=0aq7jdxm29ynbw4yh1bn07c7m&dl=06. This project is closely related to the 2016 Bungo-Baia Double Railway Track Construction Project (captured via Project ID#67414).

📚 Sources & References

Angola - Transportation (Aviation and Rail)
New Luanda international airport in Angola expected to start operating in 2019/2020
Construction of Railway to New Airport Under Way in Angola
Air-Rail AFRICA 2016
中国公司承建罗安达新机场铁路支线、车站项目举行授标和奠基开工仪式
中国昊远集团有限公司安哥拉新项目授标及奠基仪式在罗安达隆重举行
Relatorio de Execucao Trimestral do Orcamento Geral do Estado: III Trimestre de 2018
徐工工程装备助力罗安达新机场铁路支线项目
罗安达新国际机场铁路支线项目特大桥制梁场首片32米T梁浇筑成功
SAIS-CARI Loans China
罗安达国际机场铁路支线
Under the raging epidemic, the original intention
中国昊远集团有限公司、天津欧柏威股份有限公司2017年上半年工作会议成功召开
Angola Delays Opening of $5 Billion Airport for the Fourth Time
安哥拉
首都新国际机场首降成功，国产K-8助阵表演
Private Chinese Loans to Angola November 2023 Data Extraction
Críticas e escândalos ensombram novo Aeroporto Internacional de Luanda 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.