[Sino-Congolese Programme] China Eximbank provides $5.5 million loan for Kalemie Airport Terminal Construction Project (Linked to Project ID#450, #85311)

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 $5.5 million loan for the Kalemie Airport Terminal Construction Project. This project involves the construction of an airport terminal in the city of Kalemie within Tanganyika Province. According to the 2018 ACGT Annual Report, the funding that was originally earmarked for the project was later proposed for reallocation to the ramp construction project (captured via Project ID#85311). This reallocation was still pending the approval by the Board of Directors of Sicomines SARL as of 2018.

Additional details

1. The French project title Construction de l'aérogare de l'aéroport de Kalemie. 2. AidData has not yet identified any evidence that project implementation commenced. Note that while this project appears in ACGT's 2017 Annual Report with a status of ‘A démarrer,’ it is not included in the 2018 Annual Report.

Number of official sources

5

Number of total sources

8