[Sino-Congolese Programme] China Eximbank provides $5 million USD for the construction of the Lomela bridge over RN7 (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 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”. According to the ACGT 2018, in August of 2017, a contract was signed for the construction of a bridge located on RN7 with its support components (health center, school and training center) in the Sankuru province. The construction began in December 2018, and although work was scheduled to be completed in December 2019, Facebook pages documenting the progress of the construction work seem to indicate that the bridge was completed in April 2020. The construction of this project was completed by Chinese Engineering group CREC 7.

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