Completed Development AidData Chinese Aid

China Eximbank provides $76 million loan for Makoua-Mambili Section of Owando-Makoua-Ouesso Road (RN2) Construction Project (Linked to Record ID#60219, #72792, #12892)

$76M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Republic of Congo
Country	Congo
Start Date	Jun 19, 2006
End Date	Nov 05, 2027
Duration	7,809 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`72791`

Grant Description

China Eximbank provides $76 million loan for Makoua-Mambili Section of Owando-Makoua-Ouesso Road (RN2) Construction Project On June 19, 2006, China Eximbank and the Republic of Congo signed a $1.6 billion loan framework agreement — also known in the Republic of Congo as the “strategic partnership” (“partenariat stratégique”) — that allowed the Republic of Congo to obtain China Eximbank loans for infrastructure projects through a securitization mechanism: Société Nationales des Pétroles Congolais (SNPC)—the country’s state-owned oil company — agreed to deposit a portion of the cash proceeds from its oil exports into an escrow account that is controlled by China Eximbank.

This framework agreement (captured in Record ID#60219) was ratified on October 26, 2006.

Three of the subsidiary loans that were approved through the framework agreement included an $85 million loan for the Owando-Makoua Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project (captured in Record ID#12892), a $76 million loan for the Makoua-Mambili Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project (captured in Record ID#72791), and a $69 million loan for the Mambili Bridge Project Construction Project (captured in Record ID#72792).

📋 Loan / Grant Terms

📅 Maturity20 years

⏳ Grace Period5 years

💹 Interest Rate0.25%

As of 2014, USD 76 million had been disbursed. The (principal) amount outstanding under these three loans was $38,226,782 as of December 31, 2019.

All three projects supported Phase 1 of the Owando-Makoua-Ouesso Road (RN2) Construction Project (also known as the Owando-Makoua-Liouesso-Ouesso Highway Project), which sought to connect the country’s political capital (Brazzaville) with its economic capital (Pointe-Noire) in the north of the country.

The Owando-Makoua Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project involved the construction of a 73 km segment along National Route 2 (NR2) from Owando to Makoua.

The Makoua-Mambili Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project involved the construction of a 56 km road segment from Makoua to Mambili.

The Mambili Bridge Project Construction Project involved construction of a bridge over the Mambili River along National Route 2 (RN2). All three projects were undertaken by China Road and Bridge Corporation (CRBC). Their construction began on June 18, 2008 and ended on May 15, 2012.

📋 Staff Comments

The French project title is Bitumage de la route Makoua-Mambili. The Chinese project title is 奥旺多－马库阿－芒比例公路项目 or 中国路桥2号路 or 国家2号公路 or 奥旺多-马库阿-芒比利（2号）公路.
One source identifies the face value of a single China Eximbank loan for the Owando-Makoua-Liouesso-Ouesso Highway Project as 116409000000 CFA Francs. However, this value is roughly equivalent to the sum ($230 million) of the 3 China Eximbank loans for the Owando-Makoua Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project ($85 million), the Makoua-Mambili Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project($76 million), and the Mambili Bridge Construction Project ($69 million).
In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies a single $303 million China Eximbank loan for Phase 1 of the Owando-Makoua-Ouesso Road (RN2) Construction Project. AidData records three separate China Eximbank loans for the Owando-Makoua Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project, the Makoua-Mambili Section of the Owando-Makoua-Ouesso Road (RN2) Construction Project, and the Mambili Bridge Construction Project that the Congolese authorities disclosed to the World Bank and the World Bank reported in its September 2014 Republic of Congo Economic Update publication.

📚 Sources & References

Programme 10ème FED de l’Union Européenne pour la République du Congo
Decree 2015-178
REPUBLIC OF CONGO ECONOMIC UPDATE
驻刚果（布）临时代办段金柱出席刚国家二号公路一期工程竣工暨二期工程开工典礼
由中国路桥承建的刚果（布）国家2号公路一期工程竣工
EXIMBANK China
中、刚（布）互利合作
Congo-China: nearly 300 billion FCFA for the opening up of northern Congo
Chinese Loans to Africa Database
Initiative pour la Transparence dans les Industries Extractives 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.