DRC Govt got around $61M in loans from GECAMINES in June 2022
According to the report published by the Initiative for Transparency in the Extractive Industries of the Democratic Republic of Congo (ITIE-DRC), the Congolese Government owes GECAMINES a sum of 61 million USD in debt.
According to this report, the Congolese Government has contracted loans of around USD 70 million to Gécamines between 2020 and 2021 with unlimited loan conditions and a monthly repayment method.
Of the 70 million USD, the Congolese Government paid only 9 million USD in three installments of 3 million USD each.
The EITI also informs in its report that the mining company of Bakwanga MIBA also has the debt of GECAMINES of the order of 5 million USD with an interest rate of 5% for an agreed term of three years.
This report refers in particular to requirement 2.6. b) which provides that “where the Government or State enterprises have granted loans or guarantees to mining, oil and gas enterprises operating in the country, the details of these transactions shall be disclosed”.
With regard to loans or guarantees granted by the State to the extractive industries, the General Directorate of Public Debt (DGDP) specified that during the period, no guarantee or loan had been granted by the State. extractive companies.
