Active Mixed AidData Chinese Aid

[Sino-Congolese Programme] China Eximbank provides $2.5 million for the survey and discovery of artisanal mining sites in Kolwezi (Linked to Record ID#450)

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, 2018
End Date	Dec 02, 2032
Duration	5,449 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`87514`

Grant Description

[Sino-Congolese Programme] China Eximbank provides $2.5 million for the survey and discovery of artisanal mining sites in Kolwezi In 2008, China Eximbank issued a $3 billion line of credit to Sino–Congolais des Mines (Sicomines SARL) — a joint venture — to finance infrastructure projects in the DRC (see Record ID#450).

All borrowings through this line of credit (framework agreement) are repaid with revenues from mining projects managed by Sicomines SARL.

📋 Loan / Grant Terms

💰 Loan Amountissued through the line of credit carries a maturity of 25 years and an interest rate of 6-month LIBOR plus a 1% margin (or 3

The infrastructure projects that are supported by this line of credit are collectively referred to as the “Sino-Congolese Programme”.

According to the Agence Congolais Des Grandes Traveux 2018 Annual Report, in 2018, preparation was underway for a project worth $2.5 million USD. The project was for the survey and discovery of artisanal mining sites in Kolwezi.

As Kolwezi is a hub for copper and cobalt extraction the discovery efforts will likely be seeking deposits of these minerals.

📋 Staff Comments

1. Given that AidData has captured the entire $3.003 billion China Eximbank loan commitment amount for multiple infrastructure projects via Record ID#450, it does not record a financial commitment (transaction) amount for the subsidiary loan supporting this project to avoid double-counting.

📚 Sources & References

2018 Annual Report 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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