[Sino-Congolese Programme] China Eximbank pledges $10 million loan for Komanda-Bunia-Mahagi Road Rehabilitation 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’. One of the subsidiary loans that was slated for issuance through the “Sino-Congolese Programme” was a $10 million loan for the Komanda-Bunia-Mahagi Road Rehabilitation Project. This project involves the rehabilitation of 265 km Komanda-Bunia-Mahagi Road. It was listed as a possible project under the “Sino-Congolese Programme” in a 2015 Plan Strategique de Developpement by Agence Congolaise des Grands Travaux (ACGT). However, it is not identified in the 2017 or 2018 annual reports of ACGT.

Additional details

1. It does not appears that a loan has been officially committed for this project, so AidData has status-coded it as a pledge for the time being.

Number of official sources

7

Number of total sources

8