Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $10 million loan for 100 km Bunagana-Rutshuru-Goma Road Rehabilitation and 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	Aug 17, 2015
End Date	Dec 23, 2032
Duration	6,338 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59210`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $10 million loan for 100 km Bunagana-Rutshuru-Goma Road Rehabilitation and 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 $10 million loan for the 100 km Bunagana-Rutshuru-Goma Road Rehabilitation and Modernization Project.

The loan ultimately achieved a disbursement rate of 100% ($10 million out of $10 million) This project involved the rehabilitation of the 100 km Bunagana-Rutshuru-Goma section of the National Road (RN2) in North Kivu Province. Sinohydro 13 — a subsidiary of Sinohydro — was the contractor responsible for project implementation.

It was awarded a $10 million contract (ID#ACGT/DG/014/2015) on August 17, 2015.

Construction began on November 5, 2016, and the project was officially completed and handed over to the Congolese authorities on July 18, 2019. The project’s originally scheduled completion date was April 18, 2018.

📋 Staff Comments

The French project title is Projet de Réhabilitation et Modernisation de la Route Bunagan-Rutshuru-Goma (100KM) or Réhabilitation de la Route Bunagana-Rutshuru-Goma (100KM).
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 Annuel 2018
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Bunagana - Rutshuru - Goma Road Rehabilitation Project
Projet de réhabilitation de la Route Bunagana - Rutshuru - Goma
Rapport de conciliation ITIE-RDC 2016 Réalisé pour le compte du Comité Exécutif de l’ITIE RDC Par Ernst & Young RDC SARL
Administrateur Indépendant
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 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.