[Sino-Congolese Programme] China Eximbank provides $57.7 million loan for Rehabilitation and Asphalting of the 66 km Beni–Luna Section of National Road 4 (RN4) 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 $57,782,941.03 loan for the Refurbishment of the 66 km Beni–Luna Section of National Road 4 (RN4) Project. The loan ultimately achieved a disbursement rate of 97.5% ($56,339,254.59 out of $57,782,941.03). This project involved the refurbishment of 66km Beni-Niania Section of National Road 4 (RN4). The road stretches from Beni in North Kivu Province to the town of Nia-Nia in Orientale Province. (Some sources indicate that the road stretches from Beni to Kisangani, via Luna, Kisangani, Banalia, Buta, Bondo, Bafwasende.) The project was divided into two ‘lots’. Weihai International Economic and Technical Cooperative Co., Ltd. (WIETC), which is known located as Société Zhengwei Technique Coopération, was the contractor responsible for Lot 1. Sinohydro was the contractor responsible for implementation of Lot 2. WIETC and Sinohydro were awarded a $57,782,941.03 contract on June 29, 2008. Construction began on June 1, 2009 and ended on November 11, 2011. The project’s originally scheduled completion date was August 31, 2010.

Additional details

1. This project is also known as the Asphalt Paving of the 60 km Beni-Niania Section of Route Nationale 4 (RN4) Project. The French project name is Bitumage de la RN4 : Beni-Niania. 2. The loan commitment date is assumed to be the same as that for Project ID#450. 3. Some sources identify the loan commitment value as $60.92 million rather than $57.7 million. AidData relies on the more conservative estimate.

Number of official sources

14

Number of total sources

22