DR Congo President wants to review mining agreements with China | Asia Pacific News

The Democratic Republic of the Congo wants what it says is the best part of its vast economy.

Felix Tshisekedi, President of the Democratic Republic of the Congo (DRC), has called for a review of the mining agreements signed with China in 2008 and those that led him, saying he wanted to find a better deal.

During the cabinet meeting on Friday, Mr Tshisekedi called for “more technical and financial support for the Sino-Kongo alliance” at the next meeting.

“DR Congo is in dire need of infrastructure and this is hampering its development,” the statement said.

Former President Joseph Kabila, who served power from 2001 to 2019, negotiated a highly critical $ 9bn economic and construction agreement in China in 2008.

But the deal was reduced to two-thirds of the funds at the behest of the International Monetary Fund (IMF), which recognized the impact on the country’s economy.

So far, about $ 2.74bn has been donated by Chinese so far.

Former Chinese President Jiang Zemin (L) accompanies former President Joseph Kabila of the Democratic Republic of the Congo (DRC) as he inspects his bodyguard at a reception at the Great Hall of the People in Beijing [File: Goh Chai Hin/AFP]

During a visit to the mining town of Kolwezi in May, Tshisekedi announced that he wanted to discuss the mining agreement, especially the one that has been concluded with Kabila.

“It is not uncommon for the people with whom the country has signed a treaty on violence to become rich while our people remain poor,” he said.

“It is time for the country to change its agreements with the miners in order to make a successful alliance.”

Earlier this year, China donated debt reduction to the DRC aims to help deal with the economic crisis resulting from the epidemic.

As a result, the DRC did not have to repay its interest-free loans from China that matured by the end of 2020. The ministry did not say how much this amount would be.

According to a study by Johns Hopkins University in China Africa Initiative Initiative, Chinese corporations have issued 53 loans to the DRC between 2000 and 2018. Most loans focus on electricity, transportation and mining.

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