[Sino-Congolese Programme] China Eximbank provides $787,136 loan for Avenue Kitutu Solar Lighting Supply and Installation 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 $787,136 loan for the Avenue Kitutu Solar Lighting Supply and Installation Project. The project involved the supply and installation of solar lighting for Avenue Kitutu in Tanganyika Province. This project had reached by the end of calendar year 2023, but its precise implementation start and end dates are unknown.