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
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo • License award comes on stream as part of the...
• The International Monetary Fund (IMF) has authorized a $262.3 million disbursement for Ethiopia, taking total payments under Extended Credit...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boosting regional trade and investment• Part of broader...
• IFAD initiates a program worth $358.26 million to bolster dairy sector in Kenya, Rwanda, Tanzania, and Uganda • The program, called DaIMA, aims...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...