Côte d’Ivoire’s Ministry of Economy and Finance

Our role

The Investec Export and Agency Finance team concluded a Commercial Facility Agreement with Côte d’Ivoire’s MoF to partly finance a drinking water project in Côte d’Ivoire with total financing amounting to EUR 178 million. The project will facilitate access to drinking water in rural areas that have been characterised by damaged or absent water infrastructure and vital water treatment processes.

Commerzbank acted as the overall mandated lead arranger, which included arranging the ECA Facility, and Investec acted as arranger for the Commercial Facility. The ECA Facility of approximately EUR 152 million is covered by Switzerland’s export credit agency, Swiss Export Risk Insurance and is re-insured by Atradius Dutch State Business. The Commercial Facility of approximately EUR 26 million is 95% covered by Commercial Risk Insurance.

All infrastructure will be designed and installed by world-class Engineering, Procurement and Construction (“EPC”) contractor, Rimon Group Limited (“Rimon”) which specialises in water transmission and treatment projects. Rimon is well-placed to implement the abstraction, distribution, and treatment infrastructure following its extensive water project experience as an EPC worldwide.

Key highlights:

• The first of several water-aligned projects that the team seeks to finance across the continent
• The project will serve benefit 1.3 million people, which is expected to rise to 2.15 million by 2035
• Sustainable Development Goals (“SDG”) aligned project (specifically SDG 6 - clean water and sanitation – but the project also fulfils several other SDGs by water’s association with poverty, health, food security and gender equality)

"In addition to the project accomplishing UN Water’s water financing goals and achieving SDG 6, it also fulfils many other SDGs by water’s association with poverty, health, food security and gender equality,” says Brian Irvine, head of structured debt and trade finance.

About Côte d’Ivoire’s Ministry of Economy and Finance 

The Ministry of Economy and Finance ensures the implementation of state policies in relation to economic, financial and monetary matters, and is responsible for, amongst other things, the promotion of Côte d'Ivoire’s economic interests.