[Sino-Congolese Programme] China Eximbank provides funding for technical studies of Kalemie Road Rehabilitation and Modernization Project (Linked to Project ID#450, #59214, #85273)

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’. One of the subsidiary projects under the ‘Sino-Congolese Programme’ was the funding of the technical studies for the Kalemie Road Rehabilitation and Modernization Project (Voirie de Kalemie) in 2017. Democratic Republic of Congo Agence Congolaise des Grands Travaux (ACGT) was the implementing agency. The nature of the financial commitment for this project is unknown. The first section of the Kalemie Road Rehabilitation and Modernization Project was completed and started operations on Oct 27, 2020.

Additional details

1. The French name for this project is Etudes techniques du pont sur la rivière Kalemie et de vérification des travaux d'assainissement de la voirie de Kalemie. 2. Phase 1 of the construction of the Kalemie Road Rehabilitation and Modernization Project is captured via Project ID#59214. Phase 2 is captured via Project ID#85273.

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