Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $9.9 million loan for Bunia Stadium Construction 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	Aug 17, 2015
End Date	Mar 06, 2029
Duration	4,950 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59208`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $9.9 million loan for Bunia 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 $9,940,215.63 loan for the Bunia Stadium Construction Project. The loan ultimately achieved a disbursement rate of 90% ($8,938,817.47 out of $9,940,215.63).

The project involves the construction of a 10,000 seat stadium that is located in Bunia in Ituri Province. Sinohydro is the contractor responsible for project implementation. It was awarded a $9,940,215.63 contract (ID#ACGT/DG/017/2015) on August 17, 2015. Construction began on May 15, 2017 and the project’s originally expected completion date was September 2018.

The project achieved provisional acceptance on March 10, 2022. It was officially handed over to the Congolese authorities on August 23, 2023.

📋 Staff Comments

The French project title is Projet de construction d’un stade à Bunia.
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 2015
Rapport Annuels 2017
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Construction du stade de Bunia
Construction of the Bunia stadium
Rapport Annuel 2017
Rapport Annuel 2016
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
RDC - Contrat chinois : Un centre de recherche dénombre 40 infrastructures réalisées mais surfacturées à 824 millions $
Après le stade de #Goma au Nord-kivu, c'est le stade de Bunia financé par la #SICOMINES dans la province de l'Ituri qui vient d'être remis officiellement aux autorités provinciales
Après le stade de #Goma au Nord-kivu, c'est le stade de Bunia financé par la #SICOMINES dans la province de l'Ituri qui vient d'être remis officiellement aux autorités provinciales (vidéo) 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.