Alain
Ebobissé, CEO of Africa50 (centre) with Modeste
Bahati Lukwebo, Senior Minister of Planning of the Democratic
Republic of Congo and Jean-Jacques Bouya, Minister of Large
Construction Works of the Republic of Congo, during the press
conference
On
the sidelines of the Africa Investment Forum, the African Development
Bank and Africa50 have signed yesterday an agreement with the
Democratic Republic of Congo and the Republic of Congo to develop and
finance the first road-rail bridge project linking their capitals –
Kinshasa and Brazzaville.
Under
the terms of the framework agreement, the two governments have
mandated Africa50 and the African Development Bank to
develop the project as a public private partnership, the bank will
act as the debt provider under the aegis of the Economic
Community of Central African States. As the main developer, Africa50
will lead the project development, help select a strategic partner,
and provide equity for construction.
“Upgrading
the infrastructure of the Republic of Congo is one of our foremost
priorities, in particularly transport, which can help us diversify
our economy through increased trade and investment.”,
said Jean-Jacques Bouya, Minister of Large Construction Works of
the Republic of Congo. “The positive socio-economic impacts from
this project will be significant, stimulating trade and economic
growth and creating jobs in the Republic of Congo and beyond”.
Modeste
Bahati Lukwebo, Senior Minister of Planning of the Democratic
Republic of Congo, added
that, “The construction of this bridge will not only link to the
cities, but will speed up regional integration beyond our borders.
The Democratic Republic of Congo is proud to be a partner in this
effort, which aligns with our vision to modernize basic
infrastructure. We look forward to working with Africa50, the African
Development Bank and the Economic Community of Central African
States”.
“This
landmark project, part of the Programme
for Infrastructure Development in Africa (PIDA)
Priority Action Plan, consists of a 1,575-kilometer toll bridge over
the Congo River. It will include a single railway track, a
double-lane road, sidewalks, and a singleborder
checkpoint at each end. It will be connected to existing road
infrastructure in both countries. The cost estimate
in 2017 was US$550 million.
“The
bridge will improve transport networks between Kinshasa and
Brazzaville. The two closest capitals in the world are currently only
linked by ferries. Once the bridge is built, the existing traffic of
an estimated 750,000 people and 340,000 tons of freight a year, is
expected to increase to over 3 million people and 2 million tons of
freight by 2025.
“The
governments of the two countries have long been working on this
crucial infrastructure project, signing initial protocols in 2007,
and cooperating on and co-funding the feasibility study with the
African Development Bank.”
The President
of the African Development Bank, Akinwumi Adesina said
“The idea to connect the two capitals dates back to the mid-19th
century. This project is just the beginning, more will follow.”
Pierre
Guislain, Vice-president: Private Sector, Infrastructure
and Industrialisation of
the African Development Bank added
“This project is an example of what the Africa Investment Forum is
about: creating partnerships between African institutions and, the
private sector for transformative projects.”
Alain
Ebobisse, CEO of Africa50 said,
“Straddling two borders, this project presents unique and complex
structuring and development challenges, requiring a robust, detailed
PPP framework. This is where our expertise in project development can
make a difference. With the guidance of the Democratic Republic of
Congo and the Republic of Congo; and the support of the African
Development Bank and the CEEAC, we are convinced that this
transformative project can materialize in a few years.”
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