Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $21 million loan for 2.8 km Lutendele Road Refurbishment 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	Jan 01, 2008
End Date	May 06, 2032
Duration	8,892 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59437`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $21 million loan for 2.8 km Lutendele Road Refurbishment 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 $21,007,915.30 loan for the 2.8 km Lutendele Road Refurbishment Project. The loan ultimately achieved a disbursement rate of 91.5% ($19,240,627.17 out of $21,007,915.30).

The project involved the refurbishment of the 2.8 km Route Lutendele in Kinshasa.

The purpose of this project is connect the districts of Mbudi, Mazal and Lutendele to Pompage and to the Kintambo Magasin shopping center. China Railway Engineering Corporation (CREC) was the contractor responsible for implementation. It was awarded a $20,280,743 contract on June 28, 2008. A $727,172.30 contract amendment was subsequently issued to pay for cost overruns.

Project implementation commenced on June 10, 2009. The project reached completion on February 26, 2013. The project’s originally scheduled completion date was August 30, 2011.

📋 Staff Comments

The French project title is Modernisation de la Route Lutendele. The Chinese project title is 卢当德里路.
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-counting3. 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

The impact of Sicomines on development in the Democratic Republic of Congo
Convention de Collaboration entre la Republique Democratique du Congo et La Societe Sinohydro Corporation Relative au Developpement d'un Projet Minier et d'un Projet d'Infrastructures en Republique Democratique du Congo
Protocole d'Accord
Avenant No.3 a la Convention de Collaboration Relative au Developpement d'un Projet Minier et d'un Projet d'Infrastructures
The risks and rewards of Resource-forInfrastructure deals: Lessons from the Congo's Sicomines Agreement
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
周芒胜参赞参观考察中国中铁在刚果（金）首都承建项目
ChinaLoansToAfrica©SAIS-CARI.csv, drc-china infrastructure status march 2011, https://foreignpolicymag.files.wordpress.com/2018/06/01911-sicomines-workingpaper-landry-v6.pdf
Modernisation de la Route Lutendele, 6/9/2020 Modernization of Route Lutendele www .acgt.cd/006/44-modernisation-de-la-route-lutendele-2-80-km 1 / 4 M o d e r n i z a t i o n o f R o u t e L u t e n d e l e
Rapport Annuel 2013, 5 ans au service de la reconstruction et de la modernisation: Projet de cooperation Sino-Congolais
Plan du Travail, 2018 Annual Report, rapport assoupliitie
CONVENTION DE LA SINO-CONGOLAISE DES MINES : Qui perd, qui gagne entre l’Etat congolais et la Chine ? 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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