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CDB provides $12.3 million loan for 110kv Akpoga Electricity Infrastructure Project (Linked to Record ID#62258)
| Funder | China Development Bank (CDB) |
|---|---|
| Recipient Organization | Government of Equatorial Guinea |
| Country | Equatorial Guinea |
| Start Date | Jan 22, 2019 |
| End Date | May 03, 2026 |
| Duration | 2,658 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 87016 |
Grant Description
CDB provides $12.3 million loan for 110kv Akpoga Electricity Infrastructure Project On January 22, 2019, the Hubei Branch of China Development Bank (CDB) and the Government of Equatorial Guinea signed an EUR 200 sovereign credit cooperation agreement (captured via Record ID#62258).
CDB subsequently approved a $12,331,205 loan for the 110kv Akpoga Electricity Infrastructure Project (captured via Record ID#87016).
According to Caja Autónoma de Amortización de la Deuda Pública within Equatorial Guinea’s Ministry of Finance and Budget, this loan had fully disbursed as of December 31, 2019 but the borrower had not made any principal or interest repayments as of December 31, 2019.
The purpose of the project was to construct a 110kv transmission line and substation at the Akoga (Akpoga) cement factory in the town of Akelayong within Kogo District (near Equatorial Guinea's border with Gabon). CMEC was the EPC contractor responsible for implementation. On July 10, 2017, the substation component of the project was completed and a handover ceremony took place
Staff Comments
- The Spanish project title is Subestación y línea de 110 KW para la fábrica de cemento de Akoga or El Proyecto de 110kv Akpoga.
- The face value of the loan is drawn from ‘Cuadro General de la deuda al 31/12/2019’ from the Caja Autónoma de Amortización de la Deuda Pública within Equatorial Guinea’s Ministry of Finance and Budget.
- For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
Sources & References
- SAIS-CARI Loans China
- List of Chinese loans published of Equatorial Guinea Ministry of Finance Website in 2021, deuda externa e interna, 2019年国家开发银行湖北省分行运行情况
- 驻赤道几内亚大使陈国友会见国家开发银行湖北省分行行长
- INFORME DE LA DEUDA P U BLICA DE GUINEA ECUATORIAL Al 30 de junio de 202 2 (Primer Semestre)
- Ministry of Finance of Equatorial Guinea's 2019 Borrowing Plan
- Notas_explicativas_CCADP_Estados_financieros_2019_003_Copy, Últimos mensajes desde Ministerio de Minas e Hidrocarburos 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 Equatorial Guinea
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