IVORY COAST: Exim Bank of China lends €511.7m for water and electricity

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IVORY COAST: Exim Bank of China lends €511.7m for water and electricity©Teerapong Yovaga/Shutterstock

The government of Ivory Coast has ratified two loan agreements from Exim Bank of China for a total amount of 335.7 billion CFA francs ('511.7 million). The funds are intended to finance drinking water and electricity supply projects in several cities and are linked to the obligation to choose a Chinese company to implement them.

The government of Ivory Coast held its first 2020 Council of Ministers on Wednesday, January 8. This was an opportunity to promulgate several decrees, some of which ratified the two loan agreements on the part of Exim Bank of China. The two loans were granted to the Ivory Coast by the Chinese development bank in 2019 to finance several drinking water and electricity projects.

Regarding drinking water, Exim Bank of China granted 166.3 billion CFA francs (‘253.5 million) to the State. The funds will be used to finance the project to strengthen the drinking water supply in twelve towns: Bouaflé, Daloa (centre-west), Divo, Grand-Lahou (south), Katiola (centre-north), Mankono, Boundiali, Odienné, Séguéla, Touba (north), Sassandra (south-west) and Tanda (east).

As a result of this project, surface water treatment plants (rivers), ground and elevated reservoirs and pipelines will be built. In the towns concerned by the project, water networks will be extended. According to the government, the new facilities will benefit 3 million people.

Funds for the Gribo Popoli dam

The other decree signed by the government of Ivory Coast ratifies a loan of 169.4 billion CFA francs (‘258.2 million). This sum is earmarked for the implementation of the Gribo Popoli hydroelectric project. Unsurprisingly, the Ivorian government has entrusted its construction to the Chinese company Sinohydro.

“This project on the Sassandra River downstream of the Soubré dam site will increase the share of hydroelectric power generation in the generating fleet by 112 MW of power and 580 GWH of output. It will also help to reduce the average cost of kWh generated across the entire park,” explains Sidi Touré, spokesman for the government.

The overall hydropower project developed in the south of Ivory Coast will require an investment of €276.6 million. The availability of the funds will allow construction work to start, which will last 40 months.

Jean Marie Takouleu

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