The groundbreaking ceremony of the Kinsuka substation and associated distribution network project in Congo (DRC), financed by China Eximbank, was held recently.
By building a 220KV substation and supporting power grid in the west of Kinshasa, capital city of DRC, the project, together with the country’s Zongo hydropower station project (phase II) which is also financed by the Bank, will meet the demands of the two million local residents for electricity. Upon completion, the power grid will become the DRC’s first automated distribution network, and the substation Kinshasa’s largest and most advanced 220 KV substation. The project will significantly improve local power supply, expand the coverage of the DRC’s national grid and boost the country’s economic development. At the groundbreaking ceremony, President Tsisekedi of the DRC thanked China for providing financial and technical support to the project, and expressed the willingness to carry out more mutually beneficial and win-win cooperation with China.
The project is the first major infrastructure and livelihood project jointly implemented by China and the DRC after the latter joined the Belt and Road Initiative this year. In order to bring benefits to the local people at an early date, China Eximbank overcame difficulties brought by COVID-19 such as restricted flow of people, took multiple measures to coordinate the needs of relevant parties and provided a full range of financial services in a timely manner to support the project construction.
China Eximbank has always attached great importance to the cooperation with the DRC, and has financed a number of key projects in its power, transportation, telecommunication and other sectors. By so doing, the Bank has contributed its part to promoting bilateral economic cooperation and trade and facilitating the economic and social development of the DRC. Looking ahead, the Bank will further leverage its advantages in providing financial services and fully implement the eight major initiatives for China-Africa cooperation so as to enhance the friendly and pragmatic cooperation between China and Africa.