China Eximbank provides $5.56 million loan for Mont Barnier Social Housing Project (Linked to Project ID#30499, #68914)

In 2012, China Eximbank and the Government of the Republic of Congo signed a $5,569,542.00 loan agreement for the Mont Barnier Social Housing Project. This loan carries a 14-year maturity, but its interest rate and grace period are unknown.It was fully repaid by the borrower Its (principal) amount outstanding was $0 as of December 31, 2019. The purpose of the project was to construct housing units in Mont Barnier, which is located in the 7th (Mfilou) district (arrondissement) of Brazzaville. Beijing Construction Engineering Group Co.,Ltd. (BCEG) was the contractor responsible for project implementation. A French company called Egis International was the contractor responsible for project supervision. Construction began in April 2012 and the project had achieved a 57% completion rate as of December 2014. The Mont Barnier Social Housing Project was part of a larger housing relocation initiative (worth CFA 78,597,487,428 or 121 million euros) that took place after a munition’s explosion in the Mpila neighborhood within the capital city of Brazzaville on March 4, 2012. Two additional China Eximbank loans supported this larger initiative (see Project ID#68914 and ID#30499), which were coordinated by Mr. Serge OBOA.

Additional details

1. This project is also known as the Mont-Barnier Social Housing Project. The French project title is Logements Mont Barnier or Logements sociaux Barnier or Le projet de délocalisation des casernes militaires or Le projet de délocalisation et construction des casernes militaires. 2. The China Eximbank loan that supported this project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included in the the Chinese Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. AidData relies on the face value of the loan ($5,569,542.00) and the maturity length (14 years) that is recorded by the Republic of Congo’s Public Debt Agency (Caisse Congolaise d’Amortissement or CCA) and Délégation Générale des Grands Travaux (DGGT).

Number of official sources

4

Number of total sources

9