[Sino-Congolese Programme] China Eximbank pledges to provide loan for Kisangani International Airport Modernization Project (Linked to Project ID#450)

In 2008, China Eximbank issued a $3 billion line of credit to Sino–Congolais des Mines (Sicomines SARL) — a joint venture — to finance infrastructure projects in the DRC (see Project ID#450). All borrowings through this line of credit (framework agreement) are repaid with revenues from mining projects managed by Sicomines SARL. Each subsidiary loan issued through the line of credit carries 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). The infrastructure projects that are supported by this line of credit are collectively referred to as the ‘Sino-Congolese Programme’. The Government of Democratic Republic of Congo issued a sovereign guarantee for infrastructure loans approved through the ‘Sino-Congolese Programme’ line of credit. A report from the Office for Coordination and Monitoring of the Sino-Congolese Program (BCPSC) stated that the modernization of the Bangoka Terminal at Kisangani Airport had pledged financing via the Sino-Congolese Program. However, this project was not reported by any subsequent reporting by Agence Congolaise des Grands Travaux (ACGT) on the Sino-Congolese Program. On June 8, 2018, Weihai International Economic & Technical Cooperative Co., Ltd (WIETC) reported that it had started implementing this project. According to a report in 2022, the Congolese government has signed an agreement with the Chinese company SZTC to renovate the terminal at Kisangani Bangoka International Airport, located in the center-east of the country. The schedule set for the completion of the work is 7 months, and the company has already obtained an envelope of USD 2.7 million from the government. In addition to the work on the terminal, the overall upgrade plan, which receives USD 11 million in funding from the AfDB, also provides for the development of the runway, tarmac, traffic lanes and lighting. Therefore, it appears that no Chinese institutions contributed resources.

Additional details

1. Kisangani Bangoka International Airport is also known as Bangoka Airport. 2. The French project title is Projet de modernisation de l’aérogare de Bangoka (Kisangani) or Project de réhabilitation et de modernisation de l'aérogare de Bangoka: aéroport de Kisangani. The Chinese project title is 基桑加尼国际机场航站楼修复项目.

Number of official sources

5

Number of total sources

8