Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $114.9 million loan for 50th Anniversary Hospital Construction 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	Apr 22, 2008
End Date	Feb 07, 2032
Duration	8,691 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59478`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $114.9 million loan for 50th Anniversary Hospital Construction 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 $114,901,200 loan for the 50th Anniversary Hospital Construction Project. The loan ultimately achieved a disbursement rate of 99.9% ($114,879,516.42 out of $114,901,200).

The project involved the construction of a 450 bed hospital called the 50th Anniversary Hospital (Hôpital du Cinquantenaire). Sinohydro was the contractor responsible for project implementation. It was awarded a $95,873,557.77 contract on June 28, 2008. A $19,027,642.23 contract amendment was subsequently issued to pay for cost overruns.

Construction began on May 2, 2009 and ended on March 24, 2014. The hospital was officially handed over to the authorities on August 27, 2014. The project’s originally scheduled completion date was December 5, 2012.

📋 Staff Comments

This project is also known as the Hôpital du Cinquantenaire or the Central Hospital in Kinshasa. The Chinese project title is 刚果（金）金沙萨中心医院 or 刚果（金）金沙萨50周年医院.
One source identifies the project completion date as May 4, 2015. This issue warrants further investigation.
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
Rapport Annuel 2012
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, http://eng.sinohydro.com/index.php?m=content&c=index&a=show&catid=42&id=32, https://foreignpolicymag.files.wordpress.com/2018/06/01911-sicomines-workingpaper-landry-v6.pdf
Le Magazine de l'Agence Congolaise des Grands Travaux
Ouvrage de grande envergure realisé par l'ACGT
Compte rendu du Conseil des Ministres du 03 avril 2009 (RD Congo)
Power China
RDC: l'hôpital du Cinquantenaire enfin inauguré, drc-china infrastructure status march 2011, 50th Anniversary Hospital
住房和城乡建设部部长姜伟新考察刚果（金）金沙萨中心医院项目
Rapport Annuel 2013
Rapport Annuel 2011, 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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