KfW IPEX-Bank improves the supply of drinking water in the Republic of Côte d'Ivoire

KfW IPEX-Bank, together with Swedish Export Credit Corporation (SEK), is financing the construction of 1,000 drinking water boreholes with solar pumps as well as the construction of drinking water supply plants and water pipelines to supply 189 Ivorian villages, at a total contract value of 200m EUR – making it one of the largest investments in the water sector in recent years in the Republic of Côte d’Ivoire. To this end, KfW IPEX-Bank is providing financing for 55% and SEK is contributing 45% of total contract value. The Ministry of Economy and Finance of Côte d'Ivoire is the borrower. The financing benefits from cover provided by the Swedish Export Credit Agency (EKN), with re-insurance of Atradius Dutch State Business. The financing also benefits from fixed rate Swedish CIRR funding. KfW IPEX-Bank is the Initial Mandated Lead Arranger, Facility Agent and EKN Agent for the financing.

KfW IPEX-Bank’s financing enables important components from Sweden and the Netherlands to be used on site. The Israeli company Baran International Ltd., an international provider of technology, engineering and construction solutions for technical infrastructures, is both the exporter and general contractor. Financial advisor to the contractor is Bluebird Finance & Projects.

This financed project is part of “Water for All”, the Ivorian government initiative to improve drinking water supplies as part of a multi-year expansion plan, especially in rural areas. The construction of around 8,000 new wells in addition to the existing 21,000 wells throughout the country is at the heart of the program. The new facilities financed by KfW IPEX-Bank will improve the lives of about 10 percent of the total population in terms of their drinking water supply. KfW IPEX-Bank is also supporting European exports at the same time.

With its involvement, KfW IPEX-Bank is supporting local, sustainable development and improving the supply of drinking water in rural parts of Côte d'Ivoire. To this end, a comprehensive environmental and social safeguard framework has been developed in line with the requirements of the KfW IPEX-Bank Sustainability Guideline. Its implementation will be externally monitored and validated.