Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $33.8 million loan for 15 km Butembo Crossing Modernization 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	May 08, 2010
End Date	Apr 17, 2033
Duration	8,380 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59198`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $33.8 million loan for 15 km Butembo Crossing Modernization 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 $33,859,673.85 loan for the 15 km Butembo Crossing Modernization Project. The loan ultimately achieved a disbursement rate of 100%.

The project involved construction of a 15 km road (or “crossing”) between the town of Butembo and the town of Beni in North Kivu Province. It was implemented in two phases. The project was part of the modernization of major arteries in the various provinces of the DRC.

The 15 km road provides a quick and direct connection between the town of Butembo, which is a large shopping center, and the town of Beni. The latter city is also a major relay center for the city of Kasindi on the border with Uganda. Sinohydro 14 was the contractor responsible for implementation. It was awarded a $22,859,673.85 contract for Phase 1 on an unknown date.

It was awarded an $11 million contract (ID#ACGT/DG/013/2015) for Phase 2 on August 1, 2015. Phase 1 construction activities began on February 2, 2011. Phase 1 was originally expected to reach completion date on March 2, 2012. Phase 2 construction began on May 17, 2015. It was expected to reach completion on May 28, 2016.

The project reached provisional acceptance on May 28, 2016, and was officially completed on June 5, 2017.

📋 Staff Comments

This project is also known as the Butembo Municipal Road Project. The French project title is Construction Route revêtue RN2: Traversée ville de Butembo (15 Km) or Projet de Modernisation de la Traversée de Butembo or Traversée de Butembo. The Chinese project title is 布腾博市政道路工程.
Given that AidData has captured the entire $3.003 billion China Eximbank loan commitment amount for multiple infrastructure projects via Project ID#450, it does not record a financial commitment (transaction) amount for the subsidiary loan supporting this project to avoid double-counting.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

Rapport Annuel 2016
Rapport Annuel 2015
The impact of Sicomines on development in the Democratic Republic of Congo
Rapport annuel Exercice 2013
Le Chef de l'Etat arrivé samedi à Butembo lance les travaux d'asphaltage de l'artère principale de cette ville
Rapport Annuel 2012, drc-china infrastructure status march 2011
Rapport Annuels 2017
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Butembo crossing.pdf
Rapport Annuel 2017
Chinese Loans to Africa Database
Plan du Travail, 2018 Annual Report, rapport assoupliitie
CONVENTION DE LA SINO-CONGOLAISE DES MINES : Qui perd, qui gagne entre l’Etat congolais et la Chine ?
Etude d’évaluation de la mise en œuvre de la convention de collaboration relative au développement d’un projet minier et d’un projet d’infrastructures en RD Congo Projet SICOMINES 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.