Memorandum of Understanding for the payment of the rehabilitation works of the Mouyondzi Teacher Training College
5 billion 650 million 061.288 F CFA to be paid to SICOFOR and CONGO DEJIA WOOD
11 Apr, 2022
The Congolese Minister of Finance, Budget and Public Portfolio, Rigobert Roger Andely, representing the Congolese Government signed, on Friday 8 April 2022 in Brazzaville, A Memorandum of Understanding for the payment of the Congo's debt, owed to the companies SICOFOR and CONGO DEJIA WOOD, represented by the Chairman and CEO, Gong De XU.
Debt payment is staggered according to the following schedule: the 1st payment: 15 April 2022, for an amount of 3 billion; the 2nd payment: 30 September 2022, for an amount of 1 billion 325 million 030.644; and the 3rd payment: 31 March 2023 for the same amount. All these payments will be made by transfer to the bank accounts of both companies.
The two companies undertake to pay to the Congolese State the amount of applicable taxes not subject to compensation with export duties and taxes, as provided for in Article 11 of the Memorandum of Understanding signed on 26 July 2018.
The amount of execution of the protocol is 6 billion 500 million CFA francs. This debt owed by SICOFOR CONGO and DEJIA WOOD to the Congolese State relates to the project to rehabilitate the Mouyondzi Teacher Training College, located in the Bouenza division, with a view to restoring the college's vocation as a teacher training and retraining facility.
