CDB contributes to CFA 121.8 billion syndicated buyer’s credit for Touba-Ouaninou-Saoula Section of Western Region Road Rehabilitation Project (Linked to Record ID#88034)

📋 Staff Comments

1. This project is also known as 602 km Highway Project. The Chinese project title for Phase II is 651公里公路项目二期 or 651公里公路项目二期——瓦尼努至萨乌拉段 or 科特迪瓦西部地区651公里公路项目 or 科特迪瓦651公路项目 or 科特迪瓦西部地区公路改造项目(一期)项目 or 651公里公路网改造项目 or 科特迪瓦西部地区651公里公路项目 or 科特迪瓦651公里公路项目 or 科特迪瓦西部地区602公里公路改造和图巴-瓦尼乌-费朗特拉-甘乌-格贝洛-萨乌拉49公里公路沥青摊铺项目一期. The French project title is 651 kilomètres de route dans l’ouest de la Côte d’Ivoire or Travaux de renforcement de 602 km de route dans la région ouest et bitumage de 49 km sur l'axe or Travaux de renforcement de 602 km de routes dans l'Ouset et bitumage de l'axe Touba - Ouaninou - Férentela - Ganhoué - Gbélo - Saoula or Projet de construction de 602 Km de route or Travaux de renforcement de 602 km de routes à l’Ouest et de bitumage de 49 km sur l'axe Touba-Ouaninou-Saoula : Travaux de bitumage de la route Touba-Ouaninou-Saoula.
2. This project is being undertaken in two phases. It appears that ICBC is financing both phases; however, it is unclear if it issued one or two loans for the project (see https://www.dropbox.com/s/si8cj5fqzs90hv6/Hallam%20Chow%20_%20People%20_%20Mayer%20Brown.pdf?dl=0). This issue merits further investigation. One official source (https://www.dropbox.com/s/1naeus34augx3q6/Matrice%20de%20suivi%20de%20projet_Canevas%20ROUTES%20.PM_au%2028%2006%202022_VF.pdf?dl=0) suggests that the two phases are (a) Reinforcement works of 602 km of roads in the West and tarring of 49 km on the Touba-Ouaninou-Saoula axis: Asphalting works on the Touba-Ouaninou-Saoula road [Travaux de renforcement de 602 km de routes à l’Ouest et de bitumage de 49 km sur l'axe Touba-Ouaninou-Saoula : Travaux de bitumage de la route Touba-Ouaninou-Saoula]; and (b) Reinforcement works of 602 km of Western roads: Daloa-Duekoué-Man-Danané-Zouan Hounien section [Travaux de renforcement de 602 km de routes à l’Ouest : section Daloa-Duekoué-Man - Danané-Zouan Hounien].
3. One source (https://www.dropbox.com/s/si8cj5fqzs90hv6/Hallam%20Chow%20_%20People%20_%20Mayer%20Brown.pdf?dl=0) indicates that the Government of Côte d'Ivoire issued a sovereign guarantee for an ICBC loan to support the implementation of the project. This suggest that the Government of Côte d'Ivoire may not be the borrower. However, the Government of Côte d'Ivoire’s Aid Management Platform (AMP) strongly suggests that the Government of Côte d'Ivoire is the borrower. This issue merits further investigation.
4. One source suggests that one or more international banks (from outside of China) may have participated in the lending syndicate. This issue also merits further investigation.
5. The French translation of the 2018 loan agreement that was signed is ‘Convention de financement et d'exécution des travaux de renforcement de 602 km de route dans la région ouest et bitumage de 49 km sur l'axe’ (see https://www.marchespublics.ci/node?e0econvee8c2e0018322436_mkh=&page=1).
6. This loan is not included in the Chinese Loans to Africa (CLA) database that is managed by the Global Development Policy Center at Boston University and SAIS-CARI.
7. The AMP system identification number for the loan is 1120071334086.
8. The AMP identifies the loan commitment date as December 27, 2019 rather than June 28, 2019. This issue merits further investigation.
9. The purpose of the Western Region Road Rehabilitation Project as a whole, which is being implemented in two separate phases, is to renovate six existing asphalt roads with a total length of 602 kilometers, and a 49-kilometer new asphalt road. Specific road segments being supported through the project include a 70 km road segment between Biankouma and Sipilou, a 100 km road segment from Man to Hounien (via Zouan), a 200 km road segment from Daloa to Duékoué, a 277 km between Man and Odienné, and a 49 km road segment between Touba and Sahouela (via Ouaninou, Ferentela, Ganhoué, and Gbelor). More detailed locational information can be found at: https://www.openstreetmap.org/directions?engine=graphhopper_car&route=7.7383%2C-7.6128%3B7.8630%2C-8.1033#map=11/7.8013/-7.8581, https://www.openstreetmap.org/directions?engine=graphhopper_car&route=7.4091%2C-7.5502%3B6.9189%2C-8.2088#map=11/7.1646/-7.8799, https://www.openstreetmap.org/directions?engine=graphhopper_car&route=6.8767%2C-6.4516%3B6.7140%2C-7.4252#map=10/6.7989/-6.9337, https://www.openstreetmap.org/directions?engine=graphhopper_car&route=7.4091%2C-7.5502%3B9.5044%2C-7.5619#map=8/8.459/-7.586, https://www.openstreetmap.org/directions?engine=graphhopper_car&route=9.2145%2C-8.0722%3B9.4978%2C-7.
10. A commencement ceremony for the 100 km Man-Zouan Hounien road segment (also known as la route Man-Danané-Zouan-Hounien) took place on November 22, 2019. A commencement ceremony for the 70 km Biankouma-Sipilou road segment took place on June 6, 2020.
11. The exact size of ICBC and CDB’s respective financial contributions to the CFA 121.8 billion syndicated buyer’s credit are unknown. For the time being, AidData assumes that both members of the lending syndicate contributed equal amounts (CFA 60907912482.9).
12. Evidence of Sinosure's involvement can be found at https://www.dropbox.com/scl/fi/zwqp7hloxer7lktl3stn8/_-_-_-_.pdf?rlkey=1qfppk3alshr25a8nb68h1hxe&dl=0 and https://www.sohu.com/a/728230229_121123850 13. According to the World Bank's Debtor Reporting System (DRS), the weighted average grace period of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 2.5-years in 2019. AidData estimates the grace period of the ICBC/CDB loan that supported the Touba-Ouaninou-Saoula Section of the Western Region Road Rehabilitation 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 14. According to the World Bank's Debtor Reporting System (DRS), the weighted average maturity of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 14.9999-years in 2019. AidData estimates the maturity of the ICBC/CDB loan that supported the Touba-Ouaninou-Saoula Section of the Western Region Road Rehabilitation 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 15. According to the World Bank's Debtor Reporting System (DRS), the weighted average interest rate of all ‘private’ sector lending from all Chinese creditors to government and government-guaranteed borrowing institutions in Côte d'Ivoire was 2.7% in 2019. AidData estimates the interest rate of the ICBC/CDB loan that supported the Touba-Ouaninou-Saoula Section of the Western Region Road Rehabilitation 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

• 中国土木工程集团（科特迪瓦）有限公司
• 科特迪瓦651公里公路项目一期
• 中国土木承建的651公里公路项目二期——瓦尼努至萨乌拉段举行开工仪式
• 中国土木工程集团（科特迪瓦）有限公司
• Côte d’Ivoire/ Grandes révélations sur les activités d’Adama BICTOGO ( Rhdp) à l’Ouest...
• Axe Sipilou-Biankouma : Amedé Kouakou lance les travaux de bitumage
• Lancement-des-travaux-de-bitumage-de-l-axe-biankouma-sipilou-actualite-ivoirienne-07-06-2020
• Tonkpi : Infrastructures routières. Les travaux de bitumage de l'axe Sipilou Biankouma lancés.
• Lancement des travaux de la route Man-Danané-Zouan-Hounien : 51,1 milliards de FCfa pour réhabiliter 125 km de route
• BITUMAGE_OUANINOU_TOUBA_SAWELA
• Noi tensiuni politice în Muntenegru, după ce guvernul a semnat un acord cu Biserica Ortodoxă sârbă
• Les travaux de bitumage de la route Touba-Ouaninou-Ganhoué-Sahouela lancés
• Lancement du bitumage de l’axe Touba-Ouaninou-Sahouela : Un rêve vieux de 46 ans bientôt réalité
• Ivory Coast: After 46 Years of Waiting and Ordeal, the Touba-Ouaninou-Sahouela Axis Will Finally be Paid
• Mission du Ministre Adama Koné en Chine : Bank of China marque son accord pour ouvrir une agence en Côte d’Ivoire
• Côte d'Ivoire-AIP/ Upcoming opening of a granite quarry in Touba
• 中 国 土 木 工 程 集 团 有 限 公 司 驻 外 机构 中 国 土 木 工 程 集 团 （ 科 特 迪 瓦 ） 有 限 公 司
• China Earth Group signed a commercial contract for the 651-kilometer road project in the western region of Côte d'Ivoire
• CCCC Xizhu: National Day Gift∣Overseas companies signed three orders to export mixing equipment
• The first batch of 87 Foton heavy trucks were delivered to help the construction of the Ivory Coast highway project
• RAPPORT SUR LA DETTE PUBLIQUE A FIN SEPTEMBRE 2019
• Hallam Chow
• Côte d’Ivoire : lancement du bitumage des axes Biankouma-Sipilou et Touba-Ouaninou-Ferentela-Sahouela (Tonkpi
• Bafing-Ouest)
• Rapport de Presentation Du Projet De Loi De Reglement Pour L'Annee 2019
• Chine / Projets de réhabilitation de routes, soutiens financiers aux PME, transformation des matières premières…. : échanges très fructueux entre le ministre Adama KONE et la Banque de Développement de Chine (CDB), 602 km road construction project_Buyer credit
• Matrice de suivi de projet
• Projet de construction de 602 Km de route dans la région de l'oues
• Hallam Chow
• 设施联通篇 - 信满丝路
• 设施联通篇 _ 信满丝路_等项目_中国_地区
• January 2025 AMP Record for Projet de construction de 602 Km de route dans la région de l'ouest _ Crédit acheteur - Tranche 1- TOUBA - OUANINOU - FERENTELA - GANHOUE GBELO - SAOULA pdf 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.