The Africa Finance Corporation (AFC) has said it financed the Konan Bedie Bridge project in Côte d’Ivoire.
This was just as the corporation announced that it had been adjudged winner of the Euromoney Project Finance Magazine African Transport Deal award for 2012.
AFC which said this in a statement yesterday also explained that the €270 million project involved the design, construction, financing, and operation of a third bridge across the Ebrié lagoon, connecting Abidjan's residential Riviera district directly with the commercial district of Marcory.
The sponsor of the Henri Konan Bedie project was the Bouygues Group. The core financiers were AFC, the African Development Bank (AfDB), FMO, Banque Ouest Africaine de Developpement(BOAD ), Ecowas Bank for Investment & Development(EBID) and the Pan African Infrastructure Development Fund.
It added: “AFC was the mandated lead arranger of the junior tranche of the financing and provided an aggregate commitment of €40 million comprising commitments to the senior and junior loan facilities, and an equity investment. “Once completed, the new toll bridge is expected to reduce transportation cost by easing congestion over the existing two (non-tolled) bridges crossing the lagoon within the city. It is being constructed by the key project sponsor - Bouygues Group, under a turnkey fixed price arrangement. The Government of Côte D’Ivoire has provided a 30 year concession.”
Commenting on the Euromoney award, the President/Chief Executive Officer, AFC, Andrew Alli, said: "We are delighted to receive this recognition of our innovation, speed and efficacy in delivering core financing to this project, and we are pleased to share this award with Bouygues Group.”