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Overview

Chinese Government provides $34.1 million interest-free loan for Comprehensive Government Office Building Construction Project (Linked to Record ID#58940 and #58941)

Commitments (Constant USD, 2023)$35,746,782
Commitment Year2015Country of ActivityDemocratic Republic of the CongoDirect Recipient Country of IncorporationDemocratic Republic of the CongoSectorGovernment And Civil SocietyFlow TypeLoan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2015
Start (actual)
Jun 25, 2015
End (actual)
Aug 25, 2017
First repayment (originally scheduled)
Dec 29, 2024
Last repayment (originally scheduled)
Dec 27, 2034

Geospatial footprint

Map overview

Visualizes the AidData-provided feature geometry for this project.

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This project involved the construction of a four-story administrative building on Triumph Avenue in the Lingwala municipality (commune) within the Lukunga district of Kinshasa. More detailed locational information can be found at https://www.openstreetmap.org/relation/388097

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

  • China Ministry of Commerce

Receiving agencies

Government Agencies

  • Government of Democratic Republic of Congo

Implementing agencies

Private Sector

  • Jiangsu Nantong No.3 Construction Group Co., Ltd.

Loan desecription

Chinese Government provides $34.1 million interest-free loan for Comprehensive Government Office Building Construction Project

Grace period10 yearsGrant element75.0516%Interest rate (t₀)0%Interest typeFixed Interest RateMaturity20 years

Narrative

Full Description

Project narrative

According to the Aid Management Platform (AMP) of the Government of the Democratic Republic of Congo, in 2015, the Chinese Government provided a $34,168,263.38 interest-free loan to the Government of the Democratic Republic of Congo for the Comprehensive Government Office Building Construction Project. The proceeds of this loan were reportedly drawn from a series of economic and technical cooperation agreements (ETCAs) that the Chinese Government and Congolese Government signed on March 23, 2009; January 5, 2010; July 24, 2010; August 11, 2011; and December 22, 2011 (as captured via Record ID#58826, #58828, #58825, #59835, #59982). According to the AMP of the Government of the Democratic Republic of Congo, total loan disbursements for this project amounted to $29,503,308.45. The project involved the construction of a four-story administrative building on Triumph Avenue in the Lingwala municipality (commune) within the Lukunga district of Kinshasa. Jiangsu Nantong Third Construction Group Municipal Company was the contractor responsible for implementation of the project. On August 28, 2015, a foundation laying ceremony was held. However, construction reportedly began two months earlier, on June 25, 2015. Construction ended on August 25, 2017, and the project was officially completed and handed over to the Congolese authorities on December 11, 2017

Staff comments

1. The French project title is Projet de construction d'un bâtiment administratif. The Chinese project title is 政府综合办公楼项目 or 刚果民主共和国政府综合办公楼项目. 2. Since the borrowing terms of the interest-free loan are unavailable, AidData has set maturity to 20 years by default and the grace period to 10 years by default, per China's Foreign Assistance White Paper (http://www.cidca.gov.cn/2018-08/06/c_129925064_3.htm) which states that the maturity of interest-free loans is 20 years, with a drawdown period of 5 years, grace period of 5 years, and repayment over 10 years. AidData treats the drawdown period as providing 5 years of additional grace.