China Eximbank agrees in principle to provides $66 million buyer's credit for Banfora-Sidéradougoi-Gaoua Road Construction Project

Project narrative

During the October 14, 2020 Council of Ministers meeting it was announced that the Export-Import Bank of China would finance the construction and asphalting of national road number 11 (RN11) -- Banfora-Sidéradougoi-Gaoua Road in Burkina Faso. The amount of the contract is 80,754,782.79 USD. 85% or USD 68,641,555.37 is financed by the Export-Import Bank of China and the other 15% is financed by the government of Burkina Faso (12,113,217.42). Route 11 had been in construction prior to engaging Chinese companies and financing. The Government of Burkina Faso first began planning to apply for Chinese funding in June of 2020. The project was originally expected to take 24 months, with 3 months for carrying out a study and 21 months for construction. The contractor was China Road and Bridge Corporation (CRBC). An environmental study was carried out by GREGEC Sarl, a local contractor. However, after political turmoil in Burkina Faso in 2022, it was announced on November 19, 2022 that the project was no longer a priority for the Government of Burkina Faso.