THREE PROJECTS FINANCED IN CONGO, ON LOAN FROM EXIM-BANK INDIA, WILL SOON BE RELAUNCHED
23 Feb, 2024
Friday February 23, 2024 in Brazzaville, the Congolese government (represented by Messrs. Jean-Baptiste ONDAYE, Minister of Economy and Finance, and Antoine Nicéphore Thomas FYLLA SAINT-EUDES, Minister of Industrial Development and Promotion of the Private Sector) and the Indian government (represented by its Ambassador to Congo, His Excellency Mr. Madan-Lal RAIGAR) took stock of the implementation of the three projects financed in Congo on loan from EXIM-BANK INDIA. The work was attended by the General Director of this bank, Mr. Dipar KUJUR.
These three projects focus on rural electrification; the development of the urban transport system in Brazzaville and Pointe-Noire; and the establishment of a cement plant in Tao-Tao (near Dolisie, in the Niari Department).
The total amount of the three lines of credit, corresponding to the three projects, amounts to 214 million US dollars (or more than 130 billion CFA francs).
According to the report made by the Congolese party, “two projects concerned by this financing are at a standstill. These are the Rural Electrification Project and the Urban Transport System Development Project. Regarding the urban transport system development project in particular, 70 buses out of 154 were delivered in 2018 by the SRS-ERA consortium.
As for the project to establish a cement plant, provisional acceptance of which was scheduled for the end of January 2024, it is significantly delayed. Because, started in 2019, the work on this cement plant is only 42.20% completed on a technical level, while the financial execution is at 50.52%. »
The decisions taken by mutual agreement by the two parties to relaunch the three projects
These decisions were translated to the press, at the end of the work, by His Excellency Mr. Raymond Serge BALE, Ambassador of the Republic of Congo to India.
Regarding the Rural Electrification Development Project, the two parties agreed to set up a reflection platform to study the ways and means of its revival.
Regarding the Urban Transport System Development Project, a timetable has been established for actions to be carried out in stages, in particular, the requalification stage of the project, during April 2024; and the stage of choosing, by invitation to tender, a Consulting Firm, from June-July of the current year.
Finally, regarding the construction of the Tao-Tao cement plant, it was concluded that the relaunch work be carried out successfully, so that the factory is delivered to the Congolese government no later than December 31, 2025.
The Communication Unit of the Ministry of Economy and Finance
