Congo President calls for greater benefits in $6.2 Billion China Metals Agreement
Democratic Republic of Congo President, Felix Tshisekedi, has criticized a $6.2 billion minerals-for-infrastructure contract with China, stating that the country has not benefited from the deal.
Congo is abundant in natural resources, including copper and cobalt, which are key components in electric vehicles, but remains one of the world’s least-developed countries.
Most of its minerals end up in China, which signed a landmark deal with Tshisekedi’s predecessor in 2008 to trade roads and buildings for the two metals.
The President said he is now trying to ensure that Congo receives fair payment for its resources, which are in high demand. In an interview at the World Economic Forum in Davos, Switzerland, Tshisekedi said, “The Chinese, have made a lot of money and made a lot of profit from this contract.
Now our need is simply to re-balance things in a way that it becomes win-win.” Congo’s government claims that China has released less than a third of the infrastructure funds. The Chinese Embassy in Congo and the Chinese Ambassador did not immediately respond to requests for comment on the negotiations, which have gone on for more than a year.
