China Eximbank provides RMB 1.1 billion government concessional loan for National Power Grid Upgrade Project (Linked to Project ID#59408, #70267)

In September 2013, the Government of Cote d'Ivoire submitted a financing proposal to China Eximbank for the National Power Grid Upgrade Project. After years of negotiations, in December 2015, three different financing agreements for this project were signed: (1) On December 7, 2015, China Eximbank and the Government of Cote d'Ivoire signed a preferential buyer's credit (PBC) agreement [n° PBC (2015) No.21 Total No. (363)] worth $601,981,890.17 (CFA 346,320,149737.10) for the National Power Grid Upgrade Project (captured via Project ID#70267). The Ivorian Council of Ministers ratified this agreement on February 10, 2016. (2) On December 16, 2015, China Eximbank and the Government of Cote d'Ivoire signed an RMB 1,105,039,777 (CFA 99,188,354,657.51) government concessional loan (GCL) agreement [n° GCL (2015) No.19 Total No. (558)] for the National Power Grid Upgrade Project (captured via Project ID#70270). The Ivorian Council of Ministers ratified this agreement on February 10, 2016. (3) On December 16, 2015, the Chinese Government issued a $35 million (CFA 21 billion) grant in support of this project (captured via Project ID#59408). The China Eximbank loans and Chinese Government grant together financed 95.2% of the total project cost equal to $852.6 million (CFA 513.2 billion). The Government of Cote d'Ivoire agreed to directly finance the remaining $40.93 million (or CFA 24.6 billion), representing 4.8% of the total project cost. According to the Government of Côte d'Ivoire’s Aid Management Platform (AMP), China Eximbank made 9 loan disbursements through the GCL and the PBC (worth CFA 460,868,801,710.60) between 2016 and 2022: a CFA 72,323,780,816 disbursement on December 31, 2016, a CFA 128,908,276497 disbursement on December 31, 2017, a CFA 48,312,845,505 disbursement on December 31, 2018, a CFA 52,554,492,426 disbursement on April 30, 2019, a CFA 39,110,946,491 disbursement on October 31, 2019, a CFA 39,068,964,446 disbursement on December 31, 2010, a CFA 9,998,271,271 disbursement on March 31, 2021, a CFA 26,691,721,342.40 disbursement as of December 31, 2021, and a CFA 52,800,459,631 disbursement as of May 31, 2022. This project involves the construction of 946 kilometers of 225kV power transmission lines and 736 kilometers of 90kV power transmission lines, the installation of 13 new transformers, and the rehabilitation of 14 old transformers. More specifically, the project involves the construction of a 225 kV, 162 km transmission line that runs from Sérébou to Bondoukou, the construction of a 90 kV, 138 km transmission line that runs from Agnibilékro to Bondoukou via Tanda, the construction of a 90 kV, 170 km transmission line that runs from Bondoukou to Bouna, the construction of a 90 kV, 231 km transmission line that runs from Bouna to Kong, the construction of a 90 kV, 93.1 km transmission line that runs from Kong to Ferké, the construction of a 90 kV, 58 km transmission line that runs from Attakro to Daoukro, the construction of a 90 kV, 170 km transmission line that runs from Bouake 2 to Daoukro, the construction of a 90 kV, 57 km transmission line that runs from Daloa to Vavoua, the construction of a 90 kV, 54 km transmission line that runs from Zuénoula to Vavoua, the construction of a 90 kV, 66 km transmission line that runs from Seguela to Mankono, and the the construction of a 90 kV, 79 km transmission line that runs from Zuénoula to Mankono, the expansion of the Agnibilékro substation, the construction of 90kV substations at Tanda, Bouna, Vavoua, Mankono and Daoukro the construction of 225/90kV substations at Sérébou and Bondoukou, the construction of a 90/33kV substation at Kong, the doubling of a transmission line at the 225 kV Kossoubouake substation. The project will take place in four zones: Zone 1 in the North-east, Zone 2 in the Center-North, Zone 3 in the Center-West and Zone 4 in the West. The ultimate objective of the project is to provide electricity to 500 villages along the transmission lines. China National Electric Engineering Co. (CNEEC) and China National Machinery Industry Corporation (SINOMACH) are the EPC contractors responsible for implementation. China Railway 25th Bureau and CMEC were also involved in implementation (most likely as subcontractors). The project is overseen by Société des Energies de Côte d’Ivoire (CI-ENERGIES), a state-owned asset holding company that is responsible for managing assets in the electricity sector. Project implementation commenced on December 28, 2016. However, a formal groundbreaking ceremony did not take place until July 7, 2018. The project was scheduled to take place over 43 months and end in July 2020. However, it was officially completed in May 2021.

Additional details

1. This project is also known as the Electricity Network Rehabilitation and Development Project. The Chinese project title is 国家电网改扩建 or 科特迪瓦电网项目 or 科特迪瓦国家电网发展和改造项目 or 科特迪瓦电网发展和改造项目. The French project title is Projet de réhabilitation et de développement du réseau électrique en Côte d'Ivoire or Réhabilitation du réseau électrique de Côte d'Ivoire or Projet de développement et de réhabilitation du réseau Electrique (PRODERCI) or Projet de réhabilitation et de développement du réseau électrique en Côte d'Ivoire (CNEEC)_N°19&21. 2. In the database of Chinese loan commitments that SAIS-CARI released in July 2020, it identifies a single $776 million China Eximbank loan for this project. AidData records two separate loans: a GCL worth RMB 1,105,039,777 and a PBC worth $601,981,890.17. 3. The system identification number for this project in the Government of Côte d'Ivoire’s Aid Management Platform (AMP) is 1120071313516. The AMP project code is 725970301.

Number of official sources

19

Number of total sources

21