Standard Chartered announces EUR104mln of Social Loan financing to restore road infrastructure in Côte d’Ivoire

Standard Chartered announces EUR104mln of Social Loan financing to restore road infrastructure in Côte d’Ivoire

Dubai, UAE – Standard Chartered announces EUR 104 million of Social Loan financing for the Republic of Côte d'Ivoire’s Ministry of Economy and Finance, to rehabilitate a critical transport route in the South of the West African country.

The funds go towards upgrading a stretch of the ‘coastal’ road that connects the country’s two main port cities, Abidjan and San Pedro, for a 93 km section between the towns of Dabou and Grand Lahou. The project includes improving the drainage and wastewater network to reduce the risk of flooding, enhance the road’s safety and reduce congestion.

VINCI Construction, through its subsidiary Sogea-Satom[1], is the appointed contractor for the project, and the financing was backed by Bpifrance Assurance Export[2], the French Export Credit Agency. The financing package was structured by Standard Chartered in its roles as Global Co-ordinator and Structuring Bank, Social Loan Coordinator, Bookrunner and Mandated Lead Arranger.

The financing is fully compliant with the Social Loan Principles[3], given the project’s objective of improving basic transport networks (categorised as affordable basic infrastructure). The project will also contribute towards meeting the United Nations’ Sustainable Development Goal 9[4], which relates to industry, innovation and infrastructure particularly in the emerging markets.

This announcement comes at a time