Active Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides loan for Phase 2 of Bukavu Stadium Construction Project (Linked to Record ID#450, 59212)

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Sino-Congolais des Mines (Sicomines SARL)
Country	Democratic Republic of the Congo
Start Date	Jan 01, 2023
End Date	Aug 02, 2027
Duration	1,674 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`108766`

Grant Description

[Sino-Congolese Programme] China Eximbank provides loan for Phase 2 of Bukavu Stadium Construction Project In 2008, China Eximbank issued a $3.003 billion general buyer's credit loan to Sino–Congolais des Mines (Sicomines SARL) — a joint venture — to finance infrastructure projects in the DRC (as captured via Record ID#450).

All subsidiary borrowings under the (government-guaranteed) general buyer's credit loan agreement were to be repaid with revenues from mining projects managed by Sicomines SARL.

📋 Loan / Grant Terms

💰 Loan Amountcarried a maturity of 25 years

All infrastructure projects supported through the general buyer's credit loan were part of the so-called ‘Sino-Congolese Programme.’ One of the subsidiary loans issued as part of the 'Sino-Congolese Programme' was a loan for Phase 2 of the Bukavu Stadium Construction Project.

The purpose of phase 2 is to install plumbing, seating, and a synthetic lawn in the 10,000-seat Bukavu stadium in the town of Nyantende within Kabare territory.

Sinohydro Corporation Limited is the contractor responsible for implementation (through a commercial contract worth $13,654,086.98) and its work is being supervised by Agence Congolaise des Grands Travaux (ACGT). Construction commenced on July 22, 2023. The project had achieved a 95% completion rate by January 2024.

📋 Staff Comments

The French project title is Phase II des travaux du stade Nyatende à Bukavu.
Given that AidData has captured the entire $3.003 billion China Eximbank loan commitment amount for multiple infrastructure projects via Record ID#450, it does not record a financial commitment (transaction) amount for the subsidiary loan supporting this project to avoid double-counting.
The China Eximbank loan commitment for Phase 1 of the Bukavu Stadium Construction Project is captured via Record ID#59212.

📚 Sources & References

CONCLUSIONS DE L’INSPECTION GENERALE DES FINANCES SUR LA CONVENTION DE COLLABORATION D’AVRIL 2008 ENTRE LA RDC ET LE GROUPEMENT D’ENTREPRISES CHINOISES (CONTRAT CHINOIS)
Programme sino-congolais : La Sicomines encore et toujours engagée dans le développement des infrastructures en RDC
Relance du programme Sino-congolais : L’agence APCSC appelle la Chine à exécuter des infrastructures de qualité conformément à la nouvelle philosophie de coopération
Sud-Kivu : lancement des travaux de construction de la route Bukavu-Kamanyola
X post
Construction du stade de Nyantende à Bukavu : travaux au niveau de finition
RAPPORT ANNUEL D’ACTIVITE 2023 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.

All Grantees

Sino-Congolais des Mines (Sicomines SARL)

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