Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $10 million loan for 70 km Kikwit-Idiofa 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 15, 2015
End Date	Mar 27, 2029
Duration	4,973 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59227`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $10 million loan for 70 km Kikwit-Idiofa 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 70 km Kikwit-Idiofa Road Rehabilitation and Modernization Project.

This project involves the rehabilitation of a 70 km road from Kikwit to Idiofa in Kwilu Province. Sinohydro 1 — a subsidiary of Sinohydro — was the contractor responsible for project implementation. A construction contract was signed on August 15, 2015. Then, on March 28, 2017, construction began.

The expected project completion date was September 2018. As of November 2018, the project had achieved a 83.96% completion rate. Also of June 2020, the project was still unfinished, with only 63 km of the planned 70 km complete. The project was ultimately completed on February 9, 2021.

📋 Staff Comments

This project is also known as the Ingudi-Idiofa Road Rehabilitation and Modernization Project.
The French project title is Projet de Réhabilitation et de Modernisation de la Route Kikwit-Idiofa (70KM).
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
Province du Kwilu : Aubin Minaku a lancé les travaux de modernisation de la route Idiofa-Ingudi
Idiofa : Bientôt l’asphaltage d’au moins 85 km des routes
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Réhabilitation de la route Kikwit - Idiofa
Rehabilitation of the Kikwit - Idiofa road
Rapport Annuel 2017
Rapport Annuel 2016
Plan du Travail, 2018 Annual Report, 15 millions USD décaissés et travaux inachevés de la route Kikwit-Idiofa : Un congolais saisit le PG près la cour d’appel de Kinshasa/Gombe, 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 $ 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)

Interested in applying for this grant?

Complete our application form to express your interest and we'll guide you through the process.

Apply for This Grant