China Eximbank provides RMB 1.973 billion government concessional loan for 12-City Water Supply Project

Project narrative

On October 17, 2019, the Chinese Government and the Government of Côte d'Ivoire signed a preferential loan framework agreement for the 12-City Water Supply Project. The agreement was signed by China’s Ambassador to Côte d'Ivoire Wan Li and Côte d'Ivoire’s Foreign Minister Marcel Amon-Tanoh. Then, on November 13, 2019, China Eximbank and the Government of Côte d'Ivoire signed a government concessional loan (GCL) agreement [CHINA EXIMBANK GCL No. (2019) 13 TOTAL NO. (684)] worth RMB 1,973,711,522 billion RMB (CFA 166,363,485,142) for the 12-City Water Supply Project. The GCL agreement was ratified by the Ivorian Council of Ministers on January 8, 2020. The borrowing terms of the loan are unknown. However, it is known that the proceeds of the loan are to be used by the borrower to finance an RMB 2.06 billion commercial contract between the Government of Côte d'Ivoire and China Geo-Engineering Corporation (中国地质工程集团公司). As of December 31, 2023, the loan had achieved a 77.5% disbursement rate (CFA 129,061,580,042.10 out of CFA 166,363,485,142). 14 loan disbursements were made between 2020 and 2023: a CFA 51,075,240,000 disbursement on August 31, 2020 a CFA 3,143,000,000 disbursement on March 31, 2021, a CFA 15,226,191,363.70 disbursement on December 31, 2021, a CFA 5,438,081,971 disbursement on February 28, 2022, a CFA 4,949,064,961 disbursement on March 31, 2022, a CFA 2,850,517,854 disbursement on April 30, 2022, a CFA 5,705,350,000 disbursement on May 31, 2022, a CFA 8,810,830,408 disbursement on June 30, 2022, a CFA 4,399,881,712.40 disbursement on December 31, 2022, a CFA 6,750,283,036 disbursement on January 31, 2023, a CFA 3,009,550,736 disbursement on February 28, 2023, a CFA 4,439,890,000 disbursement on May 31, 2023, a CFA 7,389,858,000 disbursement on June 30, 2023, and a CFA 5,873,840,000 disbursement on October 31, 2023. The purpose of the project is to construct water infrastructure — including the construction of river water intake stations, water treatment plants, surface storage tanks, high-level water towers, and water pipe networks as well as refurbishment of existing water infrastructure — in 12 towns and cities, including Bouaflé, Daloa, Divo, Grand-Lahou, Katiola, Mankono, Boundiali, Odienné, Séguéla, Touba, Sassandra, and Tanda. Upon completion, the project is expected to supply drinking water to 1.537 million inhabitants by 2020 and 2.237 million inhabitants by 2033. China Power Construction Group Kunming Survey and Design Institute Co., Ltd., is responsible for project design and China Geo-Engineering Corporation (中国地质工程集团公司) is responsible for project implementation. A groundbreaking ceremony took place on September 15, 2020 and the originally expected duration of the construction period was 36 months (September 15, 2023). The project achieved the provisional acceptance stage on September 26, 2023. A formal project completion ceremony took place on August 2, 2024.