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[Sino-Congolese Programme] China Eximbank provides $1.51 million loan for RN1 to Idiofa Section of National Road 20 (RN20) Rehabilitation Project (Linked to Record ID#450)
| 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 | May 03, 2027 |
| Duration | 1,583 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108767 |
Grant Description
[Sino-Congolese Programme] China Eximbank provides $1.51 million loan for RN1 to Idiofa Section of National Road 20 (RN20) Rehabilitation 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.
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 $1.51 million loan for the RN1 to Idiofa Section of National Road 20 (RN20) Rehabilitation Project.
The purpose of the project is the rehabilitation of a section of national road number 20 (RN20) that connects the crossing of National Road Number 1 (RN1) and Idiofa. The road section is located in Kwilu District. As of July 2024, project implementation had not commenced.
Staff Comments
- The French project title is Projet de réhabilitation de la RN20 (croisement RN1- Idiofa).
- 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.
Sources & References
- SICOMINES S.A. X Post Oct 31, 2023
- X post
- Relance du programme Sino-congolais : L’agence APCSC appelle la Chine à exécuter des infrastructures de qualité conformément à la nouvelle philosophie de coopération
- RAPPORT ANNUEL D’ACTIVITE 2023
- Discours de Monsieur le Directeur Général de l’Agence Congolaise des Grands Travaux à l’occasion de la cérémonie de lancement officiel des travaux de la Route Nationale Numero 1 tronçon Mbuji-Mayi – Nguba (848 KM) 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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