Africa Finance Corporation (AFC) has signed an agreement with Ivoire Hydro Energy, an Ivorian project company for the development of a 44megawatts hydroelectric power plant located in Singrobo, Côte d’Ivoire.
Andrew Alli, president/Chief Executive Officer of AFC, explained that AFC’s long-term vision is to help address Africa’s infrastructure deficit and ensure sustainable economic growth for the continent.“We are delighted to be appointed as the lead developer in this transformational regional infrastructure power project, which will not only provide the opportunity to apply AFC’s differentiated model of providing long-term infrastructure financing, value-added infrastructure asset project development expertise and importantly deliver bankable projects, but also accelerate regional integration by bridging the power deficit in West Africa, and making an economic difference in the development of the sub-region.”
This investment would further consolidate AFC’s track record in Côte d’Ivoire. “The key investments include the 270 million euro financing of the flagship transport infrastructure project; the Henri Konan Bedie bridge and the 50 million euro loan facility with the Port Autonome d’Abidjan for expansion works to the Abidjan Port complex.”
By Dike Omwuamaeze