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Chinese government grants FCFA 26 billion to Congo for budget relief
| Funder | Unspecified Chinese Government Institution |
|---|---|
| Recipient Organization | Government of Republic of Congo |
| Country | Congo |
| Start Date | Sep 05, 2018 |
| End Date | Jun 12, 2026 |
| Duration | 2,837 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 59424 |
Grant Description
On September 5, 2018, the Congolese President visited Beijing for the 7th Forum on Sino-African cooperation and signed five agreements about the "One Belt, One Road" initiative. One agreement is that China will grant FCFA 26 billion to the Republic of Congo.
The funds will be used to help with budgetary pressures, according to Objectif Afrique Africa and Indian Ocean Directorate.
The other four agreements involve the Special Economic Zone (SEZ) in Pointe Noire, the concession of the RN1 linking Pointe Noire to Brazzaville to be operated by the Franco-Chinese consortium EGIS / CSCEC, non-profit double taxation, and the construction of a training school for construction trades.
Sources & References
- Congo-Brazzaville: State visit to China: 5 agreements and a donation of 26 FCFA
- Congo
- China sign four cooperation agreements
- Visite de N’Guesso en Chine : quatre accords de coopération signés 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
Government of Republic of Congo
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