Moroccan BCP group approves loans for road projects in Côte d’Ivoire
In Côte d’Ivoire, Banque Atlantique, a subsidiary of Morocco’s Banque Centrale Populaire Group, has provided a loan of 32.5 billion CFA francs to the Yamoussoukro road infrastructure rehabilitation project.
The loan was attributed to FPO Africa, one of the leading local construction companies in Côte d’Ivoire as part of a public-private partnership (PPP) with the State of Côte d’Ivoire.
This project is part of a priority program divided into several phases, the first of which involves 18 roads with a total length of 41.3 km.
Most of the roads date back to the 1980s. Their rehabilitation will enhance the security and mobility of the population, and contribute to increase the influence of the capital Yamoussoukro whose road infrastructure is in a state of advanced degradation due to lack of maintenance.
According to CEO of the Moroccan banking group “the new financing agreement strengthens and consolidates a mutually beneficial partnership between Côte d’Ivoire and BCP.”
He said the BCP Group has already financed the rehabilitation of the Abidjan-Yamoussoukro Highway and the ongoing work on the Yamoussoukro-Daloa axis.
As a reminder, Banque Centrale Populaire Group and its subsidiary, Banque Atlantique are active in the financing of infrastructure development projects in Côte d’Ivoire, particularly in the road sector with more than 206 billion CFA francs mobilized in 6 years.