[Sino-Congolese Programme] China Eximbank provides $26.8 million loan for Phase 2 of Kalemie Road Rehabilitation and Modernization Project (Linked to Record ID#450, #59214)

[Sino-Congolese Programme] China Eximbank provides $26.8 million loan for Phase 2 of Kalemie Road Rehabilitation and 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.

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 $26,871,393.78 loan for Phase 2 of the Kalemie Road Rehabilitation and Modernization Project.

The loan ultimately achieved a disbursement rate of 95% ($25,523,658.51 out of $26,871,393.78).

Phase 2 involves the rehabilitation and modernization of roads in Kalemie (including Lumumba Boulevard) in Tanganyika Province — specifically, the PK4 + 600 to PK12 + 167 stretch of road.

CREC 7, CREC 8, and CREC 9 — subsidiaries of China Railway Engineering Corporation (CREC) — and Société d'Infrastructures Sino-Congolaises (SISC) SA were the contractors responsible for implementation for both phases. They were awarded a $26,871,393.78 contract (ID#AACGT/DG/004/2018) on August 17, 2015.

Phase 2 commenced on June 1, 2018. it achieved provisional acceptance on December 18, 2020. It was officially completed on September 26, 2022.