IFC helped Eiffage, a leading European public works and concessions firm, to build and then extend the Dakar toll road in Senegal. The first portion of the road reduced average commute times to the city center from over two hours to 30 minutes. The extension will connect the city center with a new international airport and new outlying areas. IFC acted as the lead arranger and global coordinator of a €76 million debt financing package to SENAC. Of that amount, €50 million was from the Western African Development Bank, the African Development Bank, and CBAO, one of the main Senegalese commercial banks.
Port of Cotonou (PDF)
Benin’s port of Cotonou is a potential gateway to landlocked West African countries. The government hired IFC as the lead advisor on a public-private partnership for a new container terminal. The winning proposal, led by France’s Bollore, included a commitment to pay $200 million in concession fees during the first eight years of operation and invest $256 million in operating equipment and civil works over the life of the agreement.