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ICBC expresses interest in financing 5,000 Affordable Housing Units Construction Project
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Banque Congolaise de l'Habitat |
| Country | Congo |
| Start Date | Jan 01, 2019 |
| End Date | Aug 07, 2026 |
| Duration | 2,775 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 60223 |
Grant Description
ICBC expresses interest in financing 5,000 Affordable Housing Units Construction Project On June 29, 2016, China Great Wall Industry Co., Ltd.( China Great Wall) and Banque Congolaise de l'Habitat (BCH) signed a $300 million EPC+F contract for the 5,000 Affordable Housing Units Construction Project.
Under the terms of the contract, 15% of the funding for the project would be self-raised by BCH, and BCH would seek the rest of the 85% of the funds from Chinese financial institutions. BCH began negotiations with Industrial and Commercial Bank of China (ICBC) for financing the project by 2019. However, as of 2022, a financing agreement had not been finalized.
The project has a total expected construction period of 36 months and is divided into three phases of implementation. The first phase is expected to cost $100 million and it is scheduled to take place in Brazzaville North. The second phase is expected to cost $110 million and it is scheduled to take place in Brazzaville South.
The third phase is expected to cost $90 million and it is scheduled to take place in Pointe Noire.
Staff Comments
- The Chinese project title is 神州长城经济适用房项目.
- The face value of the ICBC loan is assumed to be equivalent to 85% of the total cost of the EPC+F contract.
Sources & References
- 神州长城股份有限公司 关于签署重大海外合同的公告
- 神州长城签订刚果（布）3亿美元经济适用房项目
- Logement : partenariat chinois pour la Banque congolaise de l’habitat
- Bilateral Cooperation between China and Congo-Brazzaville: The Other Side of the Ledger 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
Banque Congolaise de l'Habitat
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