- The country has agreed on a €200mn transaction with KfW Ipex-Bank, Swedish Export Credit Corporation (SEK) and Bluebird Finance & Projects. The project with a tenure of 16 years, is also backed by Swedish export credit agency EKN, with reinsurance by the Netherlands’ Atradius.
The government of Côte d’Ivoire is poised to install clean water systems across more than a thousand villages according to recent reports. Currently, a major section of the population, particularly from villages, has to walk several kilometres to reach a well to access water. The project is part of the government’s ‘Water For All’ initiative, a multi-year plan to improve water supply in rural areas.
The country has agreed on a €200mn transaction with KfW Ipex-Bank, Swedish Export Credit Corporation (SEK) and Bluebird Finance & Projects. The project with a tenure of 16 years, is also backed by Swedish export credit agency EKN, with reinsurance by the Netherlands’ Atradius.
Fifty-five percent of the project finance will be provided by the Frankfurt-headquartered KfW Ipex-Bank, It will also be the mandated lead arranger and facility agent. The remaining 45% will be provided by the Swedish state-owned SEK while the Israel-based Bluebird, will act as the financial advisor. The project is expected to be completed in four years. Baran International, a subsidiary of Israel-based contractor Baran Group, is the main engineering and construction firm. On completion, it is expected to bring clean water to around three million people of the country.
The stakeholders from the Government of Côte d’Ivoire include the Ministry of Finance, the Ministry of Hydraulics, via its water utility and Office National de l’Eau Potable.
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