Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $19.3 million loan for Boulevard 30 Juin Construction (Lot 2) Project (Linked to Record ID#450, #59429)

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Sino-Congolais des Mines (Sicomines SARL)
Country	Democratic Republic of the Congo
Start Date	Jan 01, 2011
End Date	Apr 16, 2033
Duration	8,141 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59427`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $19.3 million loan for Boulevard 30 Juin Construction (Lot 2) 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 $19,341,204.19 loan for Boulevard 30 Juin Construction (Lot 2) Project. The loan ultimately achieved a disbursement rate of 97.4% ($18,856,314.75 out of $19,341,204.19).

The purpose of the Boulevard 30 Juin Construction (Lot 2) Project was to improve traffic flow and conditions on the 2.5km stretch of Boulevard du 30 Juin between Central Station and Kintambo Magasin. China Railway Engineering Corporation (CREC) was the contractor responsible for implementation. It was awarded a contract (ID#ACGT/DG/DT/2/2004/2009) on December 9, 2009.

Construction began on February 8, 2011 and ended on July 23, 2014. The project’s originally scheduled completion date was January 25, 2013.

📋 Staff Comments

The French project title is Travaux sur le boulevard du 30 juin lot 2. The Chinese project title is 630大道二期项目.
The Boulevard 30 Juin Construction (Lot 1) Project is captured via Project ID#59429.
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

刚果（金）630大道二期项目顺利通过验收
Boulevard Du 30 Juin Kinshasa
Boulevard Du 30 Juin Kinshasa, drc-china infrastructure status march 2011
Sicomines : un bel exemple de coopération sino-africaine
Boulevard du 30 Juin Lot 2
Boulevard du 30 Juin Lot 2.pdf
Kintambo Magasin
Rapport Annuel 2017
Rapport Annuel 2016
Rapport Annuel 2015
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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