|Summaries of proposed guarantees are provided prior to Board consideration and before final contract signing, and they are therefore subject to change. Project briefs are disclosed after Board consideration and contract signing and reflect the terms of the project at the time of contract signature.|
This summary of proposed guarantee was initially published on February 10, 2010 and updated on May 14, 2012.
This summary covers the construction and operation of a toll bridge in Côte d’Ivoire. The project’s investors and lenders (Bouygues Travaux Publics S.A. of France; Pan African Infrastructure Development Fund of South Africa; BMCE Bank International Plc of the United Kingdom; Africa Finance Corporation of Nigeria; and FMO of the Netherlands) have applied for MIGA guarantees of up to $218 million for a period of 15 years against the risks of transfer restriction, expropriation, war and civil disturbance, and breach of contract.
The project consists of the design, construction, and operation of a toll bridge, to be called Henri Konan Bédié Bridge (HKB Bridge), over the Ebrié lagoon in Abidjan, with access roads to the north and south between the residential area of Riviera and the industrial area of Marcory. The total length of the full road connection will be around 6.6 kilometers, with the bridge itself spanning 1.5 kilometers. To the north, construction will consist of a 2x2 lane dual carriageway that will connect with the junction of the Boulevard Mitterrand and Est-Ouest roads and on which will be the toll plaza. To the south, construction will consist of a 2x3 lane dual carriageway with lateral access roads that will connect to Boulevard Giscard d’Estaing, the main road that joins Abidjan airport. There will be an interchange (VGE Interchange) built, not part of this project, which will connect the access road to the bridge with Boulevard Giscard d’Estaing. Pont Houphouët-Boigny (HB Bridge), one of the existing two bridges that cross the lagoon, will close for urgent repairs after the HKB Bridge opens. Initial work on the project, funded by the Government of Côte d’Ivoire, started in October 2011.
This project was originally disclosed by MIGA in February 2010. The project was put on hold due to the violence surrounding the disputed presidential elections of 2010. The project has resumed under the new government, which has already provided funding for the initial start of works.
The project is a Category A under MIGA’s environmental review procedures. Click here to view the Environmental and Social Review Summary.
The bridge will help address significant congestion and pollution in Abidjan. The existing bridges and infrastructure are under severe strain and unable to manage the city’s growing traffic. The bridge is also expected to reduce congestion and pollution in Abidjan and will result in a reduction of carbon dioxide emissions due to lower fuel consumption. The project will also provide important demonstration effects for future initiatives in the transport sector. It is one of the first private-sector led foreign direct investments in the country since the civil strife. Approximately 840 direct jobs will be created during the construction phase.
MIGA’s participation in the project is aligned with the agency’s commitment to supporting investment into the world’s poorest nations, investment in infrastructure, and investment in conflict-affected countries.