China Eximbank provides RMB 560 million government concessional loan for Smart Burkina Faso Project

Project narrative

On September 29, 2020, China Eximbank and the Government of Burkina Faso’s Ministry of Security signed an RMB 560 million government concessional loan (GCL) agreement [CHINA EXIMBANK GCL NO (2020) 7 TOTAL NO (699)] for the Smart Burkina Faso Project. The GCL carries a 20-year maturity, a 5-year grace period, and a 1% interest rate. The borrower is expected to used the proceeds of the loan to finance a $80 million (CFA 52,301,810,024) commercial contract (ID# 0Y08541900000) between Burkina Faso's Ministry of Security, Huawei Technologies Co, Ltd and China International Telecommunication Construction Corporation. The purpose of the project is to establish a 650 kilometer fiber optic backbone network that connects various cities and localities in Burkina Faso, establish a 150 kilometer fiber optic network that connects other cities and localities in Burkina Faso, and strengthen public security by installing 900 surveillance cameras and 300 video surveillance sites. Huawei Technologies Co, Ltd and China International Telecommunication Construction Corporation are the contractors responsible for project implementation. The project officially commenced on July 8, 2021 and it was originally expected to reach completion within 54 months (January 8, 2026).