Public Management

France provides Ivory Coast €2bn of which €1.4bn will be injected in the Abidjan subway project

Monday, 17 July 2017 12:57

France has decided to provide Ivory Coast a financing of €2.125 billion (about FCFA1,394 billion) between this year and 2020. This was revealed by Ivoirian Prime Minister Amadou Gon Coulibaly, at the end of a visit by a French delegation, from July 12 to 13.

According to the PM, the facility will be used to fund projects in “key sectors in line with the 2016-2020 National Development Plan (PND)”. In details, €725 million (FCFA475.5 billion) will be injected into power, road, health, security, education and training projects, while, €1.4 billion (about FCFA918.34 billion) will “complete funding for the first line of Abidjan’s subway”.

With this, works for this line should finally commence after being postponed repeatedly due to issues between the government and firms to which the project was awarded. It should be mentioned however that the 37.9km-long line which was initially expected to cost a little more than a billion Euros (about FCFA665 billion) will now cost nearly €1.4 billion (FCFA918.34 billion). This is a bit expensive when comparing to Dakar’s subway which is 51km long and is to cost about €687 million (FCFA450 billion).

Also, let’s recall that the project to develop the Abidjan subway, which should carry 300,000 passengers each day, will be carried out and operated by Société de Transport Abidjanais sur Rail (STAR), a firm controlled by French Bouygues (33%), Korean Hyundai Rotem (33%), French Keolis, subsidiary of SNCF (25%) and Korean Dongsan Engineering (9%).

B.K

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector could grow to $20 bln annually and create 20 mln...
• BRICS plans a guarantee fund to reduce political and financial risks in developing countries.• The fund will be managed by the New Development Bank...
BEAC granted Afreximbank the first-ever foreign access to the CEMAC public securities market. Cameroon raised $359.3 million via a...
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
03

• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...

BOAD Grants CFA10 Billion to Revive Boungou and Wahgnion Gold Mines in Burkina Faso
04

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
05

• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...

Burkina Faso: Vista Group Acquires Controlling Stake in Société Générale
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.