(Ecofin Agency) - After selling two Eurobonds in 2014 ($750 million) and 2015 ($1 billion), the Ivoirian government plans to issue another $1 billion bond denominated in foreign currency, Bloomberg reported on April 26 citing sources close to the case.

The new issuance on the international debt market, the first since 2015, will help the government finance various infrastructure projects.

Though the government is yet to release an official communiqué in this regard, the Eurobond which matures over 10 years, should be issued between June and July 2017.

Before that, there will be a roadshow in London and in the U.S. to meet investors and banks involved in the operation, Bloomberg indicates.

In a phone interview, Bruno Koné, the government’s spokesperson, confirmed that Cote d’Ivoire plans to issues Eurobonds this year. He, however, gave no further details.

Last Thursday, President Alassane Ouattara, had announced his administration would cut budget expenditures for 2017 by 10% due to the fall of cocoa prices. Truly, while the slump curbed the country’s revenues, expenditures for their part soared due to payment of premiums and arrears to civil servants and military earlier this year.

Fiacre E. Kakpo