[Sino-Congolese Programme] China Eximbank provides $9.99 million loan for Kamina Water Collection and Treatment Unit Construction 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 all infrastructure loans approved through the ‘Sino-Congolese Programme’ line of credit. One of the subsidiary loans issued as part of the 'Sino-Congolese Programme' was a $9,999,897.77 loan for the Kamina Water Collection and Treatment Unit Construction Project. As of 2020, the loan had achieved a disbursement rate of 97% ($9,740,014.49 out of $9,999,897.77). The project involves the construction of a water collection and treatment unit in Kamina, the capital city of Haut Lomami province. The plant will seek to increase water production capacity from 450 m3 of water per day to 7,000 to 10,000 m3 of water per day. CREC 8 — a subsidiary of China Railway Engineering Corporation (CREC) — is the contractor responsible for implementation. It was awarded a $9,999,897.77 contract (ID#ACGT/DG/006/2015) on August 17, 2015. Then, on April 20, 2017, construction began. The originally anticipated project completion date was December 2, 2018. However, this date was later pushed out until January 20, 2020. It is not clear if or when this project ever reached completion.

Additional details

1. The French project title is Construction de l'unité de captage et de traitement d'eau à Kamina or Projet de Construction de l'Unité de Captage et de traitement d'Eau à Kamina au Katanga.

Number of official sources

10

Number of total sources

13