Completed Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $35.8 million loan for Triomphale Boulevard and Sendwe Boulevard Modernization Project (Linked to Record ID#450, #59432)

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	Oct 30, 2026
Duration	6,511 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`59654`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $35.8 million loan for Triomphale Boulevard and Sendwe Boulevard Modernization 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 $29,234,927.99 loan for the Triomphale Boulevard and Sendwe Boulevard Modernization Project.

The loan ultimately achieved a disbursement rate of 96.1% ($34,524,231.94 out of $35,894,638.24). The project involved the modernization of the Triomphal and Sendwe Boulevards (3.8 km in length) in Kinshasa. China Railway Engineering Corporation (CREC) was the contractor responsible for implementation.

It was awarded a $29,234,927.62 contract (ID#ACGT/DG/DT/2/2002/2009) on December 9, 2009. A $6,659,710.62 contract amendment was subsequently issued to pay for cost overruns. Construction began on December 24, 2009 and ended on April 13, 2013. The originally anticipated project completion date was January 18, 2013.

According to multiple reports, CREC and Sinohydro came under political pressure to complete infrastructure works in central Kinshasa ahead of the DRC's 50th anniversary in June 2010, which included the refurbishment of the Triomphale and Sendwe Boulevards. On the CREC website, this project is referred to as a DRC 50th Anniversary Project.

📋 Staff Comments

The French name of this project is Boulevards Sendwe et Triomphal.
This project is separate from the $5 million loan that supported the refurbishment of the same two boulevards in 2017 (captured in Project ID#59432).
One source suggests that, due to budget overruns between 2011-2013, the contract cost was raised twice through 2 amendments. Consequently, the final cost of the contract was reportedly $36,245,149.70 (see 2018 AGCT Annual Report), an increase of $7,010,221.71 over the original amount. It is unclear if the final loan disbursement amount was also $36,245,149.
This issue warrants further investigation.
Project ID#59432 captures $5 million of complementary funding to later refurbish Triomphale Boulevard and Sendwe Boulevard.
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

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
刚果（金）建国50周年庆典工程--凯旋大道
ChinaLoansToAfrica©SAIS-CARI.csv, https://foreignpolicymag.files.wordpress.com/2018/06/01911-sicomines-workingpaper-landry-v6.pdf
Modernisation de la Route Lutendele, drc-china infrastructure status march 2011
Sendwe and Triomphal boulevards.pdf
Rapport de Conciliation ITIE RDC 2015 - signé.pdf
Sicomines : un bel exemple de coopération sino-africaine
Rapport Annuel 2013
Rapport Annuel 2011 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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