[Sino-Congolese Programme] China Eximbank provides $2.5 million loan for Survey Coverage of Artisanal Mining Areas in Kolwezi 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 $2.5 million loan for the Survey Coverage of Artisanal Mining Areas in Kolwezi Project. As of 2020, this loan had achieved a disbursement rate of 55.3% ($1,384,684.65 out of $2,500,000). The purpose of the project was to undertake surveys in the artisanal mining areas of the city of Kowezi within Lualaba Province. Société d'Infrastructures Sino-Congolaises (SISC) SA was the contractor responsible for project implementation. It was awarded a $2.5 million contract (ID#ACGT/DG/002/2018). This project reached implementation (and may have also reached completion). However, its precise implementation start and end dates are unknown.

Additional details

1. The French project title is Sondage et de couverture des zones d'exploitation artisanale a Kolwezi.

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