Project ID: 59424

Chinese government grants FCFA 26 billion to Congo for budget relief

Commitment amount

$ 50991710.356029496

Adjusted commitment amount

$ 50991710.36

Constant 2021 USD

Summary

Funding agency [Type]

Unspecified Chinese Government Institution [Government Agency]

Recipient

Congo (Brazzaville)

Sector

General budget support (Code: 510)

Flow type

Grant

Infrastructure

No

Category

Intent

Development (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

ODA-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2018-09-05

Description

On September 5, 2018, the Congolese President visited Beijing for the 7th Forum on Sino-African cooperation and signed five agreements about the "One Belt, One Road" initiative. One agreement is that China will grant FCFA 26 billion to the Republic of Congo. The funds will be used to help with budgetary pressures, according to Objectif Afrique Africa and Indian Ocean Directorate. The other four agreements involve the Special Economic Zone (SEZ) in Pointe Noire, the concession of the RN1 linking Pointe Noire to Brazzaville to be operated by the Franco-Chinese consortium EGIS / CSCEC, non-profit double taxation, and the construction of a training school for construction trades.

Additional details

Number of official sources

0

Number of total sources

3

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Government of Democratic Republic of Congo [Government Agency]