Chinese minister of Foreign affairs Wang Yi was received on Wednesday (January 6th) by President Felix-Antoine Tshisekedi in Kinshasa from Nigeria. Strengthening relations between China and the DRC, and in particular the so-called « Chinese contracts » were at the heart of the exchanges between the two men

Two initiatives, from 2007 and 2008, which provided for loans from the Chinese bank Exim Bank of about $14 billion were at the heart of the discussions. These loans gave China access to as many billions of dollars of copper and cobalt reserves. The head of Chinese diplomacy made the announcement of his country to accompany the DRC and clear part of its debt.

Visit of chinese minister of Foreign affairs Wang Yi

Transparency, efficacity, efficiency. This is the objective stated by Kinshasa in its relationship with Beijing. And it is in this spirit that the Congolese side intends to strengthen the Sicomine project, in other words the « Chinese contracts ». Indeed, this « contract of the century » was reassessed in 2009, despite opposition from the IMF. The latter had argued that the DRC could not enter into a new arrangement with a preferred preferential creditor at a time when it still owed western creditors more than $11 billion.

In Kinshasa, Wang Yi announced that China intends to support the DRC in the policy developed by President Tshisekedi in the face of the development challenge. According to the head of Chinese diplomacy, this support also relates to the efforts of the current Congolese head of state in his fight against corruption and for improving management.

Removing part of DRC’s debt

The Chinese foreign minister’s other key announcement concerns a DRC debt to his country. As such, the Chinese Minister of Foreign Affairs announced the elimination of a US$28 million debt from the DRC and $2 million in support for Felix Tshisekedi’s term as President of the African Union.

Beijing has also signed a Memorandum of Understanding with Kinshasa on DRC’s cooperation with china’s Silk Road initiative. The goal is to support large infrastructure projects to promote trade. It is with this in fact that the Chinese Minister of Foreign Affairs left Kinshasa on Wednesday (January 6th) to continue his tour of the African continent. Next steps: Botswana, Tanzania and Seychelles.

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