China Eximbank provides $69 million loan for Mambili Bridge Construction Project (Linked to Record ID#60219, #72791, #12892)

China Eximbank provides $69 million loan for Mambili Bridge 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).

As of 2014, USD 69 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.