Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $24.1 million loan for Boulevard 30 Juin Construction (Lot 1) Project (Linked to Record ID#450, #59427, and #85286)

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, 2009
End Date	Sep 05, 2033
Duration	9,013 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59429`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $24.1 million loan for Boulevard 30 Juin Construction (Lot 1) 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 $24,118,559.82 loan for Boulevard 30 Juin Construction (Lot 1) Project.

The purpose of the project was to improve traffic flow and conditions along the 5.32 km stretch of Boulevard du 30 Juin between Central Station and Socimat. China Railway Engineering Corporation (CREC) was the contractor responsible for implementation.

Construction began on January 1, 2010, with a planned project duration of 18 months and an expected completion date in September 2011. The project was ultimately completed on July 29, 2014.

📋 Staff Comments

The French project title is Travaux sur le boulevard du 30 juin lot 1.
The refurbishment of the 0.5 km Central Station Loop (located at the end of Boulevard 30 Juin) occurred simultaneously to this project (French Name: Boucle de la Gare centrale) and the China Eximbank loan that supported the refurbishment of the 0.5 km Central Station Loop is captured via Project ID#85286. The China Eximbank loan for the Boulevard 30 Juin Construction (Lot 2) Project is captured via Project ID#59427.
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

La Chine en RD Congo : présence économique, financements et les créances
Mise en œuvre de la convention de collaboration entre la RDC et le Groupement d'entreprises chinoises: Défis de la transparence, de la qualité et du respect des droits humains dans la réalisation des infrastructures du projet Sicomines à Kinshasa
The impact of Sicomines on development in the Democratic Republic of Congo
Rapport Annuel 2012
ChinaLoansToAfrica©SAIS-CARI.csv, https://foreignpolicymag.files.wordpress.com/2018/06/01911-sicomines-workingpaper-landry-v6.pdf, drc-china infrastructure status march 2011
The Sicomines agreement revisited: prudent Chinese banks and risk-taking Chinese companies
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Sicomines : un bel exemple de coopération sino-africaine
Boulevard du 30 Juin Lot 1
Boulevard du 30 Juin Lot 1, 5.32 km Boulevard du 30 Juin Lot 1.pdf
Boulevard Du 30 Juin Kinshasa
Boulevard Du 30 Juin Kinshasa
Rapport Annuel 2013
Rapport Annuel 2017
Rapport Annuel 2011
Plan du Travail, 2018 Annual Report
Rapport D'Activite 2014 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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