China Construction Bank provides EUR 182.1 million loan for Rehabilitation and Modernization of the G23, G24, and G26 Units of the Inga II Project

Project narrative

On December 22, 2023, the Beijing Branch of China Construction Bank signed an 182,167,602 buyer’s credit agreement with the Government of the Democratic Republic of Congo for the Rehabilitation and Modernization of the G23, G24, and G26 Units of the Inga II Hydropower Plant Project. The borrowing terms of the loan are unknown. However, it is known that the borrower was expected to use the proceeds of the loan to finance approximately 85% of the cost of an EUR 214 million commercial contract between Société Nationale d’Electricité (SNEL) and China National Electric Engineering Co. Ltd., which was signed in August 2022. The purpose of the project is to modernize and rehabilitate the G23, G24, and G26 turbines (units) of the Inga II hydropower plant in Seke-Banza, Kongo Central, DR Congo, which are severely corroded and face vibrational issues. China National Electric Engineering Co. Ltd. is the EPC contractor responsible for project implementation. Changjiang Institute of Survey, Planning, Design and Research (CISPDR) is responsible for the provision of technical design and consulting services. By April 2025, preliminary design, CFD analysis, and modeling had been completed.