Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $15 million loan for Phase 1 of Nzolana Avenue Modernization Project (Linked to Record ID#450, #59235)

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, 2016
End Date	Sep 29, 2026
Duration	3,742 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59229`

Grant Description

China Eximbank provides $15 million loan for Phase 1 of Nzolana Avenue Modernization Project in the DRC 2016 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 $15 million loan for Phase 1 of the Nzolana Avenue Modernization Project. The loan ultimately achieved a disbursement rate of 100% ($15 million out of $15 million).

The purpose of the project was to modernize Nzolana Avenue in Kinshasa. It also involved the construction of a bridge over the Mayi ya Mbinza River.

This project is part of a larger program to build a peripheral road that will form a loop all around the city of Kinshasa, connecting Kintambo Magasin, Pompage, UPN, Kimwenza Gare, and Ndjili Airport. Phase 1 involved the modernization of an 11 km stretch along Avenue Nzolana in Kinshasa.

CREC 8 — a subsidiary of China Railway Engineering Corporation (CREC) — was the contractor responsible for implementation.

Construction began on September 19, 2016 and Phase 1 was provisionally completed on December 23, 2017, although it wasn't officially accepted until December 24, 2018. The project’s originally scheduled completion date was December 24, 2017.

📋 Staff Comments

This project is also known as Phase 1 of the Avenue Nzolana Rehabilitation and Anti-Erosion Control Project.
The French project title is Modernisation de l'Avenue Nzolana or Projet de réhabilitation et de modernisation de l'avenue Nzolana et de la lutte anti-érosive sur l'avenue Nzolana.
Phase 2 of this project is captured via Project ID#59235.
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

rues de Lubum
Platon aurait pu en parler
Rapport Annuel 2018
Rapport Annuels 2017
Modernization of Nzolana Avenue
Modernization of Nzolana Avenue
Rapport de conciliation ITIE-RDC 2016 Réalisé pour le compte du Comité Exécutif de l’ITIE RDC Par Ernst & Young RDC SARL
Administrateur Indépendant, drc-china infrastructure status march 2011
Modernisation de l’avenue Nzolana
Rapport Annuel 2017
Rapport Annuel 2016, 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.

All Grantees

Sino-Congolais des Mines (Sicomines SARL)

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