Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $7.4 million loan for Prefabricated Housing Production Plant 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	Jul 01, 2011
End Date	Nov 04, 2030
Duration	7,066 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59226`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $7.4 million loan for Prefabricated Housing Production Plant 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 $7,492,260 loan for a Prefabricated Housing Production Plant Project in Kisangani.

The loan ultimately achieved a disbursement rate of 100% ($7,492,260 out of $7,492,260).

The project involved the construction of a 14,400 square meter prefabricated housing production plant in Kisangani, which is the capital city of Tshopo Province. Upon completion, it was expected that the plant would construct 360 prefabricated houses. This project was part of a broader effort to reduce the housing deficit in the DRC.

China Railway Engineering Corporation (CREC) and Schnell Group were the contractors responsible for project implementation.

They were awarded a $7,492,260 contract (ID#ACGT/DG/006/2011) on July 14, 2011 Construction began on October 1, 2013 and ended in October 2014. Final project acceptance took place on April 7, 2018. The project’s originally scheduled completion date was May 7, 2015.

📋 Staff Comments

The French project title is Implantation de l’usine des préfabriqués à Kisangani or Installation d'une unité des préfabriqués.
It is unclear when the loan agreement was signed, so the commitment year is assumed to be the same as construction contract signing year.
The donation of $6.5 million USD-worth generators captured in Project ID#59443 are most likely the two generators of 630 KVA each, which were installed in 2015 to compensate for the lack of electricity in the factory.
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
The impact of Sicomines on development in the Democratic Republic of Congo
Implantation de l’usine de production des préfabriqués à Kisangani (360 maisons préfabriquées)
Installation of the prefabricated production plant in Kisangani (360 prefabricated houses)
Rapport Annuel 2017
Rapport Annuel 2016
Plan du Travail, 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.

All Grantees

Sino-Congolais des Mines (Sicomines SARL)

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