Ivory Coast gets $776M loan for power upgrades

2016-2-2

 Ivory Coast, Abidjan: Ivory Coast, one of Africa's fastest-growing economies, signed a $776 million loan deal with China Exim Bank on Wednesday to pay for the upgrades to its national power grid, according to the country's prime minister.

The financing will fund the construction of 13 new transformer substations and rehabilitation of 14 existing substations, reports Reuters Africa.

The funds will also be used for building nearly 2,000 km of new high-voltage lines.

Source: Reuters Africa