Completed Development AidData Chinese Aid

China Eximbank provides RMB 1.513 billion government concessional loan for Phase 2 of the National Fiber-Optic Network Backbone Project (Linked to Record ID#134)

¥1.51M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Democratic Republic of Congo
Country	Democratic Republic of the Congo
Start Date	Nov 04, 2011
End Date	Feb 20, 2028
Duration	5,952 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`19149`

Grant Description

China Eximbank provides RMB 1.513 billion government concessional loan for Phase 2 of the National Fiber-Optic Network Backbone Project On November 4, 2011, China Eximbank and the Government of the Democratic Republic of Congo signed an RMB 1,513,000,000 government concessional loan (GCL) agreement [China Eximbank GCL n° 43 (2011) Total n° (393)] for Phase 2 of the National Fiber-Optic Network Backbone Project.

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period5 years

💹 Interest Rate1%

The loan was underpinned by the following source of collateral: fees paid by users of fiber optic infrastructure, which were deposited in a lender-accessible escrow account (that was created in October 2013).

According to Government of the DRC's Aid Management Platform (AMP), the USD commitment value of the loan was $243,015,590.68 and cumulative disbursements through the loan amounted to $192,300,318.22, which implies a disbursement rate of 79.1%.

The proceeds of the loan were to be used by the borrower to finance a commercial contract between l’Office Congolais des Postes et Télécommunications (OCPT) and China International Telecommunication Construction Corporation (CITCC).

The purpose of the second phase of this project was to lay 3250 km of fiber optic cable along three sections: Kinshasa-Bandundu, Kinshasa-Mbuji, and Mayi-Lubumbashi-Sakania.

China International Telecommunication Construction Corporation (CITCC) was the contractor responsible for implementation. A groundbreaking ceremony was held on March 30, 2013 and the project was completed in February 2016.

📋 Staff Comments

The Chinese project title is 刚果（金）光缆骨干网二期 or 国家光缆骨干网二期项目. The French project title is Réalisation du Réseau national Backbone à fibre optique (phase II) or Travaux de pose de la fibre optique 2eme phase.
In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it does not record the borrowing terms of this loan. AidData records the borrowing terms that are reported in the 2013 Public Debt Audit published by the Government of the Democratic Republic of Congo (20-year maturity, 5-year grace period, 1% interest rate, and 0.75% commitment fee).
China Eximbank provided an RMB 245 million loan for Phase 1 of the National Fiber-Optic Network Backbone Project (as captured via Record ID#134).

📚 Sources & References

http://www.voanews.com/content/dr-congo-misses-deadline-for-high-speed-internet/1084751.html, http://www.presidentrdc.cd/spip.php?article174
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