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Congo Fails to Account for Infrastructure Loans, Group Says

  • Sicomines received $1.16 billion, spent $478 million: group
  • Congo government says group’s findings have ‘no foundation’
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The Democratic Republic of Congo’s government failed to account for more than half a billion dollars of infrastructure loans received from Chinese institutions over a six-year period, according to the Carter Center.

Sicomines, a Chinese-Congolese copper-mining venture, received $1.163 billion in loans between 2008 and 2014 to spend on infrastructure, but disbursed only $478 million, the Atlanta-based advocacy group said in a report published Nov. 3. Its findings are based on data provided by the Congolese department that oversees the loan program, the Office for Coordination and Monitoring of the Sino-Congolese Program, known by the French acronym BCPSC.