[Sino-Congolese Programme] China Eximbank provides $24.1 million loan for Boulevard 30 Juin Construction (Lot 1) Project (Linked to Project ID#450, #59427, and #85286)

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 linked 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 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. One of the subsidiary loans issued as part of the “Sino-Congolese Programme” was a $24,118,559.82 loan for Boulevard 30 Juin Construction (Lot 1) Project. The purpose of this project was to improve traffic flow and conditions along the 5.32 km stretch of Boulevard du 30 Juin between Central Station and Socimat. China Railway Engineering Corporation (CREC) was the contractor responsible for implementation. Construction began on January 1, 2010, with a planned project duration of 18 months and an expected completion date in September 2011. The project was ultimately completed on July 29, 2014.

Additional details

1. The French project title is Travaux sur le boulevard du 30 juin lot 1. 2. The refurbishment of the 0.5 km Central Station Loop (located at the end of Boulevard 30 Juin) occurred simultaneously to this project (French Name: Boucle de la Gare centrale) and the China Eximbank loan that supported the refurbishment of the 0.5 km Central Station Loop is captured via Project ID#85286. The China Eximbank loan for the Boulevard 30 Juin Construction (Lot 2) Project is captured via Project ID#59427.

Number of official sources

11

Number of total sources

21