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New infrastructure securing access to water in the Ivory Coast

Swedish companies will play a role and deliver to projects initiated by the Ivory Coast’s government for the provision of a working infrastructure for water to the country’s population. SEK’s Social loans are financing the Water for All program.

Clean drinking water

Facts

Transaction: Social loans (Export credit)
Amount: EUR 196 million and EUR 13.5 million in commercial loans
Maturity: Construction time (4 years) +12 years for the Exportcredit,  1+4 years for the commercial loan
Borrower: The Ministry of Economy and Finance of the Republic of Ivory Coast
Buyer: Ministry of Hydraulics, Office National de l’Eau Potable
Agent bank: KfW IPEX, in collaboration with SEK
Guaranteed by: EKN 100%

Facts

Transaction: Social loans (Export credit)
Amount: EUR 196 million and EUR 13.5 million in commercial loans
Maturity: Construction time (4 years) +12 years for the Exportcredit,  1+4 years for the commercial loan
Borrower: The Ministry of Economy and Finance of the Republic of Ivory Coast
Buyer: Ministry of Hydraulics, Office National de l’Eau Potable
Agent bank: KfW IPEX, in collaboration with SEK
Guaranteed by: EKN 100%

The Water for All program was launched in 2016 by the country’s President and Ministry of Economic Infrastructure and is one of the largest investments in the water sector in the Ivory Coast. The overriding goal of the program is to provide drinking water to at least 95 percent of the population and to bridge existing gaps in water access between the country’s regions, particularly in the areas in which inhabitants need to walk several kilometers to the nearest well to fetch water.

“The part of the project that SEK is financing aims to provide better access to drinking water for 3 million people, which is over 10 percent of the country’s access to drinking water.”

PER EDLUNDH, DIRECTOR EXPORT AND PROJECT FINANCE, AT SEK

SEK financed the project together with the German bank KfW IPEX-Bank with an export credit and a commercial loan that enables the construction of infrastructure and 1,000 solar electricity driven water wells in the Ivorian countryside. The Swedish Export Credit Agency (EKN) is guaranteeing the transaction.

The Israeli company Baran International Ltd., an international supplier of technology, engineering and construction solutions for technical infrastructure, is the general contractor and has been tasked by the Ivorian government to deliver to Water for All.

“The project is in line with several of the UN SDGs, and thanks to SEK financing the project, even smaller Swedish companies have the opportunity of contributing.”

PER EDLUNDH, DIRECTOR EXPORT AND PROJECT FINANCE, AT SEK

The participation of Swedish suppliers is a prerequisite for SEK and EKN to be able to finance and guarantee infrastructure projects abroad.

“This type of project is well in line with our fundamental ambition to contribute positively to social development and a healthier world. The project in the Ivory Coast provides enormous value to many people, while also being a pilot project that gives us valuable experience in a new market.”

Robin Gerum, Business Development Manager, at Serneke

Swedish exports comprise construction services from Serneke and subcontracts from a number of Swedish exporters that are coordinated and contracted by the Elof Hansson trading company.

“Elof Hansson International is proud to support yet another project in Africa based on financing from SEK and a guarantee from EKN. The “Water For All” project in Ivory Coast fits perfectly into Elof Hansson agenda to deliver sustainable projects in Africa and elsewhere. What could be more sustainable than to deliver solar powered borehole pump systems to provide clean drinking water for people living in remote areas?”

Björn Olausson, President, at Elof Hansson International

Would you like to know more?

Contact Per for more information.

per.edlundh@sek.se

+46 8 613 83 98

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