DRC Celebrates 64th Independence Anniversary with New Push for “Minerals for Infrastructure” Program
On June 30, 2024, the Democratic Republic of Congo (DRC) commemorated the 64th anniversary of its independence. To mark the occasion, President Félix Tshisekedi addressed the nation with a significant announcement.
In his message, broadcast on public television (RTNC), President Tshisekedi directed the government to expedite the second phase of the extensive “minerals for infrastructure” program starting this year. This ambitious initiative aims to “promote the internal market and create jobs.”
Since 2018, the DRC has been engaged in an agreement that exchanges mineral resources for the development of infrastructure, including roads and buildings.
President Tshisekedi criticized the original Sino-Congolese agreement, asserting that it did not adequately benefit the country. He called for its renegotiation to ensure that the DRC could better leverage its mining resources.
Former Prime Minister Sama Lukonde, under President Tshisekedi’s instructions, initiated the relaunch of the Sino-Congolese program in Kinshasa after a week of negotiations aimed at revising the 2008 minerals-for-infrastructure contract between China and the DRC.
On March 14, 2024, the Congolese government and the group of Chinese companies (GEC) signed an amendment to the agreement, often referred to as the “contract of the century.”
This renegotiation aims to establish a more equitable relationship between the two parties, allowing the DRC to benefit more substantially from the exchange of minerals for infrastructure development.
The revised Sino-Congolese Agreement is already yielding positive results for the DRC. On June 27, 2024, President Tshisekedi launched the construction of the Kinshasa ring roads.
This major project, described by the presidency as a 63 km long high-speed peripheral asphalt road with two lanes in both directions, will be financed through the revenues from the updated “minerals for infrastructure” contract.
This initiative represents a significant step towards leveraging the DRC’s mineral wealth for sustainable infrastructure development and economic growth.
