China Eximbank provides $114.77 million preferential buyer’s credit for Abidjan-Grand Bassam Highway Upgrading and Reconstruction Project

China Eximbank provides $114.77 million preferential buyer’s credit for Abidjan-Grand Bassam Highway Upgrading and Reconstruction Project On October 3, 2011, China Eximbank and the Government of Cote d'Ivoire signed a $114,777,280 (CFA 52,686,466,240) preferential buyer’s credit (PBC) agreement for the Abidjan-Grand Bassam Highway Upgrading and Reconstruction Project.

The proceeds of the PBC were used to finance 85% of the cost of a CFA 61,987,936,500 commercial (EPC) contract between the Government of Cote d'Ivoire’s Ministry of Economic Infrastructure (MIE), AGEROUTE, and China Machinery Engineering Corporation (CMEC).

The Government of Cote d'Ivoire agreed to directly finance the remaining 15% of the commercial contract cost (CFA 9,301,470,260).

According to the Government of Côte d'Ivoire’s Aid Management Platform (AMP), China Eximbank made 22 loan disbursements (worth CFA 56,588,409,076.60) between 2012 and 2016: a CFA 619,906,190.48 disbursement on September 28, 2012, a CFA 8,038,125,000 disbursement on January 25, 2013, a CFA 1,791,560,971.43 disbursement on August 28, 2013, a CFA 2,491,114,190.48 disbursement on September 17, 2013, a CFA 1,465,385,204.76 disbursement on November 4, 2013, a CFA 1,245,346,871.43 disbursement on November 12, 2013, a CFA 204,195,771.43 disbursement on January 6, 2014, a CFA 1,196,438,600 disbursement on March 11, 2014, a CFA 723,609,600.83 disbursement on April 11, 2014, a CFA 931,927,326.30 disbursement on May 20, 2014, a CFA 2,572,362,143.55 disbursement on June 27, 2014, a CFA 2,157,631,708.15 disbursement on July 22, 2014, a CFA 4,423,442,395.50 disbursement on September 22, 2014, a CFA 580,215,583.26 disbursement on November 5, 2014, a CFA 2,991,080,776 disbursement on January 31, 2015, a CFA 6,687,349,963 disbursement on March 31, 2015, a CFA 4,542,740,160 disbursement on June 30, 2015, a CFA 6,475,490,042 disbursement on August 31, 2015, a CFA 60,347,440 disbursement on November 30, 2015, a CFA 63,834,291 disbursement on February 29, 2016, a CFA 6,539,324,333 disbursement on March 31, 2016, and a CFA 786,980,514 disbursement on June 30, 2016.

This project involved the upgrading and reconstruction of a 42.7 km two-way, six-lane highway between Abidjan and Grand Bassam (which begins at the Akwaba crossroads in the commune of Port-Bouët and ends at the Moossou district in Grand-Bassam).

More specifically, the project involved the 10.68 km widening of the Akwaba Place-Gonzagueville highway section, the 2.18 km widening of the Gonzagueville – Riding Center highway section, the construction of a 17.45 km Gonzagueville-Grand Bassam highway (between the Riding Center and Moossou and connecting to the Comoé bridge), and the reinforcement of an existing, 14.04 km road section from the Riding Center in Grand Bassam.

CMEC was the general EPC contractor responsible for project implementation. A formal groundbreaking ceremony took place on August 3, 2012. However, construction did not begin until September 1, 2012. The construction period was originally scheduled to last 30 months (planned end date: March 1, 2015).

However, the project faced implementation delays because CMEC had to rent equipment from SOROUBAT on December 29, 2012 and the equipment did not arrive at the project site until March 2013. The project also encountered significant right-of-way and commercial contract interpretation challenges. Construction was ultimately completed in June 2015.

Provisional acceptance of the road works took place on September 11, 2015. Three days later, the highway was officially opened to traffic on September 14, 2015. Final acceptance of the road works took place on October 11, 2016.