EBID Board Approves Approximately Fcfa 58bn to Finance two Public Sector Projects In Ivory Coast
The 72nd Meeting of the Board of Directors of EBID was held via Videoconference on March 9, 2021. During this Extraordinary board meeting, financing was approved for two public sector projects in the Republic of Cote d’Ivoire in the amount of about Fifty-eight billion francs CFA (FCFA58 000 000 000).
The first project funded will build one thousand five hundred (1 500) units of boreholes each equipped with mixed manual and solar pumps, a set of solar panels and a 5m3 water storage tank for numerous communities in Cote d’Ivoire. The total estimated cost for this project is Thirty-one billion seven hundred and seventy-nine million francs CFA (FCFA 31 779 000 000).
The second project approved for financing is for installation of one thousand (1000) solar pumping and water treatment units across Cote d’Ivoire. The total cost of this project is Twenty-seven billion one hundred and sixty-two million two hundred and seventeen thousand six hundred francs CFA (FCFA 27 162 217 600).
Both projects are in line with the Bank’s 2021-2025 strategic plan aims to improve the living conditions in rural areas especially for women and children by improving access to potable drinking water. The project is expected to create jobs both during and after construction and installation, enhance social collaboration and ultimately contribute much needed infrastructure for socio-economic development of the region.
Finally, the Board commended the Management of EBID for their resource mobilization initiatives and approved the mobilization of Two hundred fifty-one million and three hundred thousand Euros (€251 300 000) from EU partners.
