Henri Konan Bedie Bridge – Cote d’Ivoire

    Description

    About the project

    The Henri Konan Bedie Bridge is a US$365 million public private partnership (PPP) project in Abidjan, Côte d’Ivoire and consists of a 6.4km highway and 1.9km bridge with three lanes in each direction across the Ebrié lagoon, connecting Abidjan’s residential Riviera district directly with the commercial district of Marcory. The new bridge eliminates the need to use the heavily congested 9km route via existing bridges and includes a toll station on the north side of the lagoon and footbridges for pedestrians.
    The project involves the design, construction, financing, commissioning and operation of the bridge.  Bouygues Group is the main project sponsor and has a 30 year concession with the Ivorian Government to design, construct, develop and operate the new bridge. 
    The bridge was opened to the public in December 2014.

    Financing

    AFC was the mandated lead arranger of the mezzanine tranche of the financing and provided an aggregate commitment of US$55 million comprising commitments to the senior and mezzanine loan facilities, and an equity investment.  Government contribution to the project is in excess of US$90 million and MIGA provided US$145 million in insurance cover for equity investments and loans.
    The core financiers of the project are: Bouygues Group; AFC; African Development Bank (AfDB); FMO; PAIDF; Banque Quest Africaine de Developpement (BOAD); Banque d’Investissement et de Developpement de la CEDEAO (BIDC); and Banque Maroccaine du Commerce Extérieur (BMCE)

    Benefits

    Abidjan, the commercial heart of Cote d’Ivoire, is a fast growing post-conflict metropolis with a population in excess of seven million. Since the late 1990’s Cote d’Ivoire has experienced serious political upheaval and civil conflict, paralysing international private sector investment. Infrastructure in Abidjan is in dire need of investment and expansion.

    The bridge:
    •    Reduces transportation costs by easing congestion on the existing two (non-tolled) bridges; 
    •    Provides quick and easy access to the centre of Abidjan- compared to the old routes, the bridge reduces travel time by 30 minutes and shortens the journey by 10km;
    •    Provides direct and indirect employment during the construction and post construction phases; and 
    •    Develops local capacity

    First in its Field

    The Henri Konan Bedie Bridge is the first of a new program of privately funded infrastructure development projects being implemented by the post-conflict Government of Côte d’Ivoire.

    Awards

    The project has received the following international awards: 
    •    International Finance Corporation Emerging Partnerships top ten Public Private Partnerships (PPPs) in Africa
    •    Euromoney Project Finance Deals of the Year, 2012
    •    African Transport Deal of the Year
    •    EMEA Finance Project Finance Award 2012 – Best infrastructure deal in EMEA
    •    Africa Investor Leadership in Sustainable Investment in Africa, 2011

     

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