Active Development AidData Chinese Aid

China Eximbank provides $69.689 million loan for Mont-Mambou Social Housing Project (Linked to Record ID#68914 and #68923)

$69.69M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Republic of Congo
Country	Congo
Start Date	Sep 04, 2012
End Date	Sep 15, 2028
Duration	5,855 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`30499`

Grant Description

China Eximbank provides $69.689 million loan for Mont-Mambou Social Housing Project On September 4, 2012, the Export-Import Bank of China and the Government of the Republic of Congo signed a $69,689,969.56 loan agreement for the Mont-Mambou Social Housing Project.

📋 Loan / Grant Terms

💰 Loan Amounthas a 14-year maturity

📅 Maturity14 years

Its (principal) amount outstanding was $40,655,856 as of December 31, 2019.

The purpose of the project was to construct housing units for law enforcement officers at the Mont-Mambou military base in the 7th (Mfilou) district (arrondissement) of Brazzaville. Beijing Construction Engineering Group Co.,Ltd. (BCEG) was the contractor responsible for project implementation. A French company called Egis International was the contractor responsible for project supervision.

Construction began in April 2012 and the project had achieved a 57% completion rate as of December 2014.

The Mont Mambou Social Housing Project was part of a larger housing relocation initiative (worth CFA 78,597,487,428 or 121 million euros) that took place after a munition’s explosion in the Mpila neighborhood within the capital city of Brazzaville on March 4, 2012.

📋 Staff Comments

This project is also referred to as Mont Mambou Social Housing Project and Mont Mombou Housing Project. The French project title is Logements Mont Mombou or Le projet de délocalisation des casernes militaires or Le projet de délocalisation et construction des casernes militaires.
The China Eximbank loan that supported this project is not included in the database of Chinese loan commitments that SAIS-CARI released in July 2020. Nor is it included in the the Chinese Overseas Development Finance Dataset published by Boston University’s Global Development Policy Center in December 2020. AidData relies on the face value of the loan ($69,689,969.56) and the maturity (14-years) that is recorded by the Republic of Congo’s Public Debt Agency (Caisse Congolaise d’Amortissement or CCA) and Délégation Générale des Grands Travaux (DGGT).
Two additional China Eximbank loans supported this larger initiative (see Project ID#68914 and ID#68923), which was coordinated by Mr. Serge OBOA.

📚 Sources & References

China grants more than 600 billion FCFA to the Republic of Congo
Le Congo et la Chine signent des accords pour un milliard d'euros
New Chinese loans agreed, ÉTAT DES LIEUX DE LA DETTE PUBLIQUE EN LA RÉPUBLIQUE DU CONGO
China's Bilateral Relations with Its Principal Oil Suppliers
Les Coordinations des Projets Structurants
Drame de Mpila : La banque chinoise Exim bank participera à la reconstruction de la zone dévastée
N°311 du 22 décembre 2014
La Chine et le Congo signent sept accords de coopération
Trois ans après les explosions de Mpila
Brazzaville cherche à se reconstruire
China's Overseas Development Finance
Initiative pour la Transparence dans les Industries Extractives 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.