[Sino-Congolese Programme] China Eximbank provides $9.5 million loan for 12.934 km Kamina-Musonoï-Kapata Road Construction 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’. One of the subsidiary loans issued as part of the 'Sino-Congolese Programme' was a $9.5 million loan for the construction of 12.934 km Kamina-Musonoï-Kapata route in Lualaba. The loan ultimately achieved a disbursement rate of 100% ($9.5 million out of $9.5 million). Société d'Infrastructures Sino-Congolaises (SISC) SA was the contractor responsible for project implementation. It was awarded a $9.5 million contract (ID#ACGT/DG/003/2018) on May 16, 2018. Construction also began on May 16, 2018. The project was reportedly completed on September 21, 2020 and handed over to the Government of the Democratic Republic of Congo and the OVD for maintenance.

Additional details

1. The French project title is Construction de la route Kamina-Musonoi-Kapata.

Number of official sources

4

Number of total sources

6