[Sino-Congolese Programme] China Eximbank commits $5.5 million loan for Kabalo Bridge Construction and Modernization 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 $5.5 million loan for the Kabalo Bridge Construction and Modernization Project. As of 2018, the loan had achieved a 28.6% disbursement rate ($1,574,067 out of $5,500,000). The project involved the construction and modernization of a bridge in the town of Kabola, which is the administrative center of Kabalo territory within Tanganyika Province. One of the subsidiary loans issued (in 2015) as part of the “Sino-Congolese Programme” was a $5.5 million loan for the Kabalo Bridge Construction and Modernization Project. This project involved the construction and modernization of a bridge in the town of Kabola, which is the administrative center of Kabalo territory within Tanganyika Province. As of 2018, $1,574,067 had been disbursed for this project.

Additional details

1. The French project title is Projet de construction et Modernisation du Pont Kabalo.

Number of official sources

5

Number of total sources

8