The quality of the State's signature was confirmed yesterday through the signing of refinancing agreements.

The financial equilibrium of the electricity sector which was established in 2018 will be further consolidated, thanks to the support granted by banks to the State to settle its debt to the sector.

The refinancing operation concerns a total amount of FCfa 292 billion in two tranches denominated in euros and in FCfa.

The first tranche (Cfa) which amounts to 95 billion was disbursed by Nsia Banque and the Société Générale de Banque in Côte d'Ivoire.

The second tranche (in euros) signed on April 29, in Paris, France, concerns an amount of 300 million euros, or 197 billion FCfa and will be mobilized by Deutsche Bank and consulting firms (Rothschild & Co, Jean-Francois Chauveau and Orrick).

The Minister of Petroleum, Energy and Renewable Energies, Cissé Abdourahmane, who chaired the ceremony organized as part of this refinancing, indicated that this support will help clear the residual balances due to independent electricity producers ( Ipp) and, ultimately, facilitate other investments and maintain the financial balance of the electricity sector.

Recalling the ambitions of the government for the sector, Abdourahmane Cissé notably declared that the State wants to go further, with regard to the export of electricity to the outside.

“With the establishment of the refinancing line, we wish, from 2030, to export energy to Guinea and Sierra Leone. If we want this to continue, we must have a clean sector,” he said.

The debt targeted by the refinancing operation was induced by the rise in the dollar in 2015. “We looked for short-term solutions to this debt, but they were not suitable.

We appealed to donors, with the guarantee of the State of Côte d'Ivoire. We would like here to thank our partners who have placed their trust in us, as well as the Ivorian government”, rejoiced Traoré Amidou, CEO of CI-Energies.

In addition to the representatives of the banks and the State party, were present at the ceremony, the Secretary of State to the Prime Minister, in charge of the Budget and the State Portfolio, Moussa Sanogo and the Director General of the Company, Amadou Bakayoko .