[Sino-Congolese Programme] China Eximbank provides $7.99 million loan for Manterne-Tshela-Singini Road Rehabilitation Project (Linked to Record ID#450)

Project narrative

In 2008, China Eximbank issued a $3.003 billion general buyer's credit loan to Sino–Congolais des Mines (Sicomines SARL) — a joint venture — to finance infrastructure projects in the DRC (as captured via Record ID#450). All subsidiary borrowings under the (government-guaranteed) general buyer's credit loan agreement were to be repaid with revenues from mining projects managed by Sicomines SARL. Each subsidiary loan carried a maturity of 25 years, a grace period of 10 years, and an interest rate of 6-month LIBOR plus a 1% margin (or 3.839% at the time of the agreement). All infrastructure projects supported through the general buyer's credit loan were part of the so-called ‘Sino-Congolese Programme.’ One of the subsidiary loans issued as part of the 'Sino-Congolese Programme' was a $7.99 million loan for the Manterne-Tshela-Singini Road Rehabilitation Project. The purpose of the project is to rehabilitate a 12.27 km segment of National Road 12 (RN12) in Kongo-Central Province that runs 118 km from Manterne to Singini via Tshela. Sino-Congolaise Hydroélectrique (Sicohydro) — a special purpose vehicle and joint venture of Sicomines (75% ownership stake), Gécamines (7% ownership stake), la Société Nationale d’Electricité (SNEL, 3% ownership stake), and Congo Management Sarl (COMAN, 15% ownership stake) — is the entity responsible for project implementation (through a commercial contract worth $7.98 million). Its work is being supervised by Agence Congolaise des Grands Travaux (ACGT). Construction commenced on July 15, 2023. Bituminous coating began on May 15, 2025. The project was originally scheduled to reach completion within 18 months (January 15, 2025).