Project ID: 33663

China Eximbank provides $114.77 million USD preferential buyer’s credit for Abidjan-Grand Bassam Highway Upgrading and Reconstruction Project

Commitment amount

$ 122575430.6

Constant 2017 USD

Summary

Funding agency [Type]

Export-Import Bank of China [State-owned Policy Bank]

Recipient

Cote d'Ivoire

Sector

Transport and storage (Code: 210)

Flow type

Export Buyer's Credit

Concessional

Yes

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment year

2011

Implementation

2012

2012-08-03

Actual start

Completion

2015

2015-09-14

Actual

Geography

Description

On October 3, 2011, China Eximbank and the Government of Cote d'Ivoire signed a $114.77 million USD (54,655,847,620 CFA) preferential buyer’s credit (PBC) agreement for the Abidjan-Grand Bassam Highway Upgrading and Reconstruction Project (see Oct. '11 FMPRC article). The PBC carried the following terms: a 2% interest rate, a 20-year maturity, and a 7-year grace period (see source #71514; Chinese Loans to Africa Database). The proceeds of the PBC were used to finance 85% of the cost of a 63,356,551,095 CFA EPC contract with China Machinery Engineering Corporation (CMEC). The Government of Cote d'Ivoire covered the remaining 15%. According to a February 2018 export from the Government of Cote d'Ivoire’s Aid Management Platform (AMP), 56,588,409,080 CFA of this loan has been disbursed.This project involved the upgrading and reconstruction of a 42.7 km two-way, six-lane highway between Abidjan and Grand Bassam. A groundbreaking ceremony took place on August 3, 2012 and works were scheduled to last 30 months. The highway was officially opened to traffic on September 14, 2015.

Additional details

The Chinese project title is 阿比让—大巴姆高速公路 or 阿比让-大巴萨姆高速公路项目. The French project title is Autoroute Abidjan-Grand Bassam or Construction de l'autoroute Abidjan-Bassam.

Number of official sources

15

Number of unofficial sources

9

Download the dataset

Details

Cofinanced

No

Receiving agencies [Type]

Government of Côte d'Ivoire (Ivory Coast) [Government Agency]

Implementing agencies [Type]

China Machinery Engineering Corporation (CMEC) [State-owned Company]; Cote d'Ivoire Road Management Agency (AGEROUTE) [Government Agency]

Loan type

Concessional

Maturity

20 years

Interest rate

2.0%

Grace period

7 years

Grant element

56.00770973%

Gurarantee provided

No

Insurance provided

No