kuwait fund signs loan agreement for financing substation in cote d’ivoire
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Kuwait Fund signs loan agreement for financing substation in Cote d’Ivoire

Arab Today, arab today

Arab Today, arab today Kuwait Fund signs loan agreement for financing substation in Cote d’Ivoire

Kuwait Fund
Kuwait - WAM

A loan agreement was signed on Wednesday in Abidjan between the Republic of Cote d'Ivoire and Kuwait Fund for Arab Economic Development, whereby Kuwait Fund will lend 7 million Kuwaiti Dinar (KD) or about US$23.8 million to the Republic of Cote d'Ivoire to assist in financing the ADZOPE 90/33 kV Substation Construction Project.

Another agreement related to all necessary arrangements for the implementation of the project was also signed between Kuwait Fund and Societe des Energies de Cote d'Ivoire 'CI-Energies' (the company).

The electrification project will ensure quality and reliability, suitable for economic and social development in the region. It will also help fight unemployment and provide job opportunities to young people, thus achieving sustainable development.

The project includes civil works, procurement and installation of electromechanical equipment to construct the Adzope substation, building Agboville and Attakro extensions and the linking of 90 kV overhead transmission lines with extension and modification of MV network in Adzope department, consulting services, environmental and social studies, environmental impact mitigation measures, institutional support and land acquisition.

The cost of the project will be about 24.8 billion West African Francs or KD12.46 million, which means the loan will cover about 56 percent of the total project cost. The loan amount will partially cover the cost of substation, transmission lines and the MV network, and will fully cover consultation and supervision work. The Government of Cote d'Ivoire will bear the remaining cost and also any additional cost that may occur.

The loan is for a term of 25 years, including a grace period of five years, and will be amortised by 40 semi-annual instalments. The interest will be 1 percent per annum in addition to a charge of 0.5 percent for meeting administrative costs and expenses of implementation of the loan agreement.

It is the fifth loan provided by Kuwait Fund for project financing. The fund has already provided four loans to the Republic of Cote d'Ivoire for developments in different sectors, with a total amount of about KD19.23 million or US$ 65.7 million. It has also extended KD250,000 (US$850,000) for technical assistances and grants.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait fund signs loan agreement for financing substation in cote d’ivoire kuwait fund signs loan agreement for financing substation in cote d’ivoire

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait fund signs loan agreement for financing substation in cote d’ivoire kuwait fund signs loan agreement for financing substation in cote d’ivoire

 



GMT 06:49 2012 Saturday ,01 September

Lamitta Frangieh on her \'Facebook Romance\'

GMT 08:26 2017 Wednesday ,08 February

Qatar spending $500m a week on World Cup projects

GMT 17:00 2017 Tuesday ,27 June

Saudi Arabia rebuts fake news on Turkey, Israel

GMT 10:31 2016 Monday ,12 December

Second Sydney airport cleared for take off

GMT 05:27 2017 Sunday ,16 April

GIB Capital wins 4 EMEA Finance Awards

GMT 13:58 2016 Friday ,30 December

Australia beat Pakistan to win Test series

GMT 10:07 2017 Monday ,17 April

Mark Hamill would like to play George Lucas

GMT 12:10 2016 Tuesday ,13 December

Over 30 dead as Kenya tanker crashes, explodes

GMT 02:13 2017 Monday ,25 September

December22nd-January20th

GMT 15:39 2017 Tuesday ,03 October

Bangladesh rescues 20 Rohingya held by racket gang

GMT 02:51 2017 Friday ,10 November

Under siege, Syria doctors forced to improvise care
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday