Completed Development AidData Chinese Aid

China Eximbank provides RMB 413.1 million government concessional loan for 71.5 km Odiénné-Gbéléban Road Asphalting Project (Linked to Record ID#71377)

¥413.1M RMB

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Côte d'Ivoire (Ivory Coast)
Country	Cote d'Ivoire
Start Date	Nov 14, 2017
End Date	Feb 20, 2028
Duration	3,750 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`71375`

Grant Description

China Eximbank provides RMB 413.1 million government concessional loan for 71.5 km Odiénné-Gbéléban Road Asphalting Project On September 29, 2017, the Chinese Ambassador and the Foreign Minister of Cote d'Ivoire signed a preferential loan framework agreement for the 71.5 km Odiénné-Gbéléban Road Asphalting Project and the 61.23 km Agboville-Rubino-Céchi Road Asphalting Project.

Then, on November 14, 2017, the Government of Cote d'Ivoire and China Eximbank signed an RMB 810 million (CFA 67,959,283,985) government concessional loan (GCL) agreement [GCL NO. (2017) 18 TOTAL NO. (623)] to support these two road projects. The GCL was ratified by the Ivorian Council of Ministers on December 6, 2017.

📋 Loan / Grant Terms

💰 Loan Amountare unknown

According to the Government of Cote d'Ivoire’s Aid Management Platform (AMP), 51% of the loan proceeds (or approximately RMB 413.1 million or CFA 34,650,000,000) were used to support the 71.5 km Odiénné-Gbéléban Road Asphalting Project (as captured via Record ID#71377) and 49% of the loan proceeds (or approximately RMB 396.9 million or CFA 33,210,000,000) were used to support the 61.23 km Agboville-Rubino-Céchi Road Asphalting Project (as captured via Record ID#71375).

The borrower was expected to use the loan proceeds for the 71.5 km Odiénné-Gbéléban Road Asphalting Project to finance a commercial (EPC) contract between the Ivorian Government’s Ministry of Economic Infrastructure, AGEROUTE, and China Road and Bridge Corporation (CRBC), which was signed on September 15, 2015.

According to the Government of Côte d'Ivoire’s Aid Management Platform (AMP), China Eximbank made 6 loan disbursements (worth CFA 39,640,841,520.50) for the 71.5 km Odiénné-Gbéléban Road Asphalting Project between 2016 and 2020: a CFA 2,498,710,315 disbursement on November 21, 2016, a CFA 816,675,954 disbursement on October 31, 2017, a CFA 19,818,287,133 disbursement on April 30, 2018, a CFA 4,619,954,201 disbursement on June 30, 2019, a CFA 10,160,538,846.50 disbursement on December 31, 2019, and a CFA 1,726,675,071 disbursement on December 31, 2020.

This project involved the asphalting of a 71.5 km road from Odiénné to Gbéléban.

Upon completion, this project was expected to increase trade in the ECOWAS region (in particular between Côte d'Ivoire and Guinea), revitalize agriculture at the local level, and reduce traffic accidents. CRBC was the EPC contractor responsible for project implementation. The project was officially launched on January 25, 2016 and it had achieved a 25% completion rate as of August 1, 2017.

One year later, in August 2018, 26.5 km of the 71.5km road had been completed. This project was ultimately completed on October 11, 2020. It reportedly reduced the travel time from Odiénné to Gbéléban from 4 hours to 45 minutes.

However, the project did encounter some difficulties, including delayed Ivorian Government payments to CRBC, difficulties in the application of the Labor Code, and social unrest that led to work stoppages.

📋 Staff Comments

The French project title is Bitumage axe Odienné-Gbeleban. The Chinese project title is 奥迭内-贝利邦公路项目 or 奥贝公路项目.
The system identification number for this project in the Government of Côte d'Ivoire’s Aid Management Platform (AMP) is 1120071315079. The AMP project code is 78062000922.
According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 7.3333-years in 2017. AidData estimates the grace period of the Export-Import Bank of China loan that supported the 71.5 km Odiénné-Gbéléban Road Asphalting Project by using this figure. See https://www.dropbox.com/scl/fi/i7f56vi0ix8drznpbaczg/Weighted-average-borrowing-terms-from-Chinese-Lenders-to-Ivory-Coast-April-2024-IDS-Data-Extraction.xlsx?rlkey=0uj6y8don6vdg39v28f1y4nwz&dl=0 4. According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 19.8333-years in 2017. AidData estimates the maturity of the Export-Import Bank of China loan that supported the 71.5 km Odiénné-Gbéléban Road Asphalting Project by using this figure. See https://www.dropbox.com/scl/fi/i7f56vi0ix8drznpbaczg/Weighted-average-borrowing-terms-from-Chinese-Lenders-to-Ivory-Coast-April-2024-IDS-Data-Extraction.xlsx?rlkey=0uj6y8don6vdg39v28f1y4nwz&dl=0 5. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all official sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 1.9999% in 2017. AidData estimates the interest rate of the Export-Import Bank of China loan that supported the 71.5 km Odiénné-Gbéléban Road Asphalting Project by using this figure. See https://www.dropbox.com/scl/fi/i7f56vi0ix8drznpbaczg/Weighted-average-borrowing-terms-from-Chinese-Lenders-to-Ivory-Coast-April-2024-IDS-Data-Extraction.xlsx?rlkey=0uj6y8don6vdg39v28f1y4nwz&dl=0

📚 Sources & References

Les Sources de Financement des Projets Routiers
Exclusive / Road infrastructures - Odiénné-Gbéléban axis, a delay with 25% execution
LE CONSEIL DES MINISTRES DU 06-12-2017
COMMUNIQUE DU CONSEIL DES MINISTRES DU MERCREDI 06 DECEMBRE2 017
CONSEIL DES MINISTRES DU 06-12-2017
February 2018 Export from the Government of Ivory Coast's Aid Management Platform
RAPPORT DE MISE EN ŒUVRE DE LA DEUXIEME PHASE DU PROGRAMME ECONOMIQUE REGIONAL (PERII) DE L’UEMOA EN COTE D’IVOIRE A FIN JUIN 2018
AMÉNAGEMENT ET BITUMAGE : PLUSIEURS PROJETS ROUTIERS ACHEVÉS
科特迪瓦几内亚边境奥贝公路工程进展顺利
Communique du Conseil des Ministres de Mercredi 06 Decembre 2017
科特迪瓦几内亚边境奥贝公路工程进展顺利
科特迪瓦总统出席奥迭内-贝利邦公路项目落成仪式
CRBC Signs Concessional Loan Framework Agreements for Two Projects
Odienne-Gbelegban Highway Project in Cote d'Ivoire
Chinese Loans to Africa Database, 2018 Government of Cote d'Ivoire Bond Prospectus
Mot du Premier Ministre Duncan
Bitumage axe ODIENNE - GBELEBAN_71,5 km
Bitumage axe ODIENNE - GBELEBAN_71,5 km Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.