Chinese overseas lending / COD
Democratic Republic of the Congo: debt owed to China
In 2021, Democratic Republic of the Congo is estimated to have owed China $5.23bn, equal to 9.5% of its GDP, which ranks it 26 of 126 borrowers in the panel by dollars owed. The estimated stock peaked at $6.11bn in 2018.
The estimated stock, 2000 to 2021
The largest single-year move in the estimated stock is 2016, when it rose by $1.39bn.
Source: Horn, Reinhart and Trebesch, China’s Overseas Lending. Selection: estimated stock owed to China by Democratic Republic of the Congo, by year and instrument, 2000 to 2021. Zeros are estimated zeros (no known loans outstanding), not missing values. Methodology
Historical loan records from the 2021 release
These records come from the 2021 HRT Mendeley replication release, not the November 2025 refreshed stock panel charted above. The refresh uses the updated Franz, Horn, Parks, Reinhart and Trebesch methodology, so this table cannot be reconciled to the chart. The earlier release marks 33 loan-level records for Democratic Republic of the Congo as part of its debt-estimate sample, spanning 2000 to 2016. Comparable commitments are available for 33 of those loans and sum to $1.97bn. These are gross commitments, not outstanding debt stocks. The stock methodology applies disbursement and amortisation profiles, with imputation where loan terms are missing, so the commitment sum must not be compared with the stock above. See the methodology. Terms are sparse by source: interest rate appears on 15 loans, grace period on 0, maturity on 1, any of the three on 15, and all three together on 0. The earlier file also carries 50 additional project rows for Democratic Republic of the Congo outside that sample, so they are not included in this table.
| Year | Project | Commitment, USD | Commitment, source currency | Terms | Creditor | Type |
|---|---|---|---|---|---|---|
| 2016 | Avenue Nzolana Rehabilitation and Anti-Erosion Control ID: COD_74 · Source: JH CARI | $39m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Busanga Hydropower Project 240MW ID: COD_60 · Source: BU Energy, JH CARI | $165m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower SPV |
| 2015 | RN5 Bukavu-Ngangezi-Kamanyola Upgrade; 55km ID: COD_69 · Source: JH CARI | $80m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Kinshasa; Government Administrative Building ID: COD_64 · Source: JH CARI | $36m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | RN2 Crossing to Butembo; 15km ID: COD_68 · Source: JH CARI | $33m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Mbuji Mayi to Mwene Ditu Road Resurfacing ID: COD_67 · Source: JH CARI | $15m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Goma; Bunagana-Rutshuru-Goma Road; 15km; Phase I ID: COD_61 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Kalemie Road Rehabilitation and Modernization ID: COD_63 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Stade de Bunia - Amani Stadium ID: COD_70 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Stade de Goma - Stade de l'Unite ID: COD_71 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Stade de Kalemie ID: COD_72 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2015 | Kolwezi Road Rehabilitation and Modernization ID: COD_66 · Source: JH CARI | $6.00m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2013 | Lwambo-Mitwaba-Manono-Kalemie Road Asphalting; 175km; Phase I ID: COD_56 · Source: JH CARI | $35m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2013 | Economic and Technical Assistance ID: COD_55 · Source: JH CARI | $8.00m | n/a | rate 0% | grace n/a | maturity n/a | China Ministry of Commerce (MofCom) Chinese government | Loan Zero-Interest Loan · borrower Central government |
| 2012 | Fiber-Optic Cables Phase II ID: COD_53 · Source: AidData, JH CARI | $91m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower Central government |
| 2012 | N'Djili Airport Runway Refurbishment ID: COD_54 · Source: JH CARI | $60m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower Central government |
| 2011 | Zongo II Hydropower Station 150MW ID: COD_51 · Source: AidData, BU Energy, JH CARI | $367m | n/a | rate 2% | grace n/a | maturity 20y | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower Central government |
| 2011 | Government Internal Telecom Network ID: COD_49 · Source: JH CARI | $40m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan loan type n/a · borrower Central government |
| 2010 | Eastern Butangbo Road; Phase II ID: COD_47 · Source: JH CARI | $26m | n/a | rate 1.5% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower Central government |
| 2008 | Sicomines Copper Project ID: COD_42 · Source: AidData, JH CARI | $429m | n/a | rate 0% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Zero-Interest Loan · borrower SPV |
| 2008 | Kinshasa; Bed Construction in Hopital du Cinquantenaire - 450 beds; Phase I ID: COD_34 · Source: AidData, JH CARI | $100m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Lubumbashi - Kasomeno RN5 National Road Asphalting; 90km; Phase I ID: COD_39 · Source: AidData, JH CARI | $88m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | North Kivu; Beni-Luna Road Refurbishment; 66km; Phase I ID: COD_41 · Source: AidData, JH CARI | $58m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Katanga; Lubumbashi-Kasomeno RN5 National Road Grading; 137km; Phase I ID: COD_32 · Source: AidData, JH CARI | $51m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Fiber-Optic Cables Phase I ID: COD_31 · Source: AidData, JH CARI | $36m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower Central government |
| 2008 | Kinshasa; Boulevards Triomphale et Sendwe Refurbishment; 4.3km; Phase I ID: COD_36 · Source: AidData, JH CARI | $29m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Kinshasa; Avenue du Tourisme Refurbishment; 7.35km; Phase I ID: COD_33 · Source: AidData, JH CARI | $24m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Kinshasa; Boulevard du 30 Juin Refurbishment; Part 1; 5.3km; Phase I ID: COD_35 · Source: AidData, JH CARI | $24m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Kinshasa; Lutendele Road Refurbishment; 4.56km; Phase I ID: COD_37 · Source: AidData, JH CARI | $21m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Esplanade in front of the People's Palace in Kinshasa Refurbishment; 24380 sqr m; Phase I ID: COD_30 · Source: AidData, JH CARI | $20m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Boulevard du 30 Juin Refurbishment in Kinshasa 2.5km; Part 2; Phase I ID: COD_29 · Source: AidData, JH CARI | $19m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2008 | Kisangani; Factory to Build Prefabricated Houses; Phase I ID: COD_38 · Source: AidData, JH CARI | $8.00m | n/a | rate 4% | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Commercial · borrower Central government |
| 2000 | Establishing Joint-Venture Congo China Telecom ID: COD_16 · Source: JH CARI | $10m | n/a | rate n/a | grace n/a | maturity n/a | China Export-Import Bank (Ex-Im) State-owned policy bank | Loan Concessional · borrower SPV |
Source: Horn, Reinhart and Trebesch, China’s Overseas Lending (2021 Mendeley replication loan file). Selection: 2021 replication loan records mapped to Democratic Republic of the Congo and flagged DebtEstimateSample = 1 in that release. This is an earlier source universe, not the records used for the November 2025 refreshed stock panel. CommitmentUSD is a gross commitment flow and is not comparable to the charted stock. Commitment stays in its source currency, and ProjectDescription is rendered as free-text data from the file. Methodology
Against what Democratic Republic of the Congo reports owing to all creditors
Democratic Republic of the Congo reported $10.48bn of total external debt to all creditors in 2021, of which $6.87bn is public and publicly guaranteed. The China estimate is 49.9% of the reported external total and 28.2% of the reported public and guaranteed stock. These are ratios of two different measurements, one estimated and one borrower-reported, and they are not a share of a single consistent total.
| Measure, 2021 | Estimated, owed China | Reported, all creditors | Ratio, % |
|---|---|---|---|
| Total external debt | $5.23bn | $10.48bn | 49.9% |
| Public and publicly guaranteed | $1.94bn | $6.87bn | 28.2% |
Source: Horn, Reinhart and Trebesch, China’s Overseas Lending (estimated stocks), and World Bank International Debt Statistics, borrower-reported via the Debtor Reporting System (all-creditor stocks). Selection: estimated external and PPG stock owed to China in 2021 against Democratic Republic of the Congo's reported DT.DOD.DECT.CD and DT.DOD.DPPG.CD for the same year. Drawn swap balances are excluded from the estimated column: they are a central-bank liability the Debtor Reporting System's long-term-debt concepts do not carry. Methodology