[Sino-Congolese Programme] China Eximbank provides funding for technical studies of Bukavu Stadium Construction Project (Linked to Project ID#450, #59212)

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 Bukavu Stadium Construction Project in 2017. Technical studies focused on topographical, geotechnical, and photogrammetry analysis. Democratic Republic of Congo Agence Congolaise des Grands Travaux (ACGT) was the implementing agency. The groundbreaking ceremony was held on January 6, 2018. It is unclear whether the project is ongoing or complete. The nature of the financial commitment for this project is also unknown.

Additional details

1. The French name for this project is Etudes topographiques, géotechniques et photogramétriques du site du stade de Bukavu. 2. The Bukavu Stadium Construction Project is captured via Project ID#59212.

Number of official sources

3

Number of total sources

5