Benin: Romuald Wadagni signs with Bpifrance to back Fonroche Eclairage ($22.8m)
Fonroche’s solar-powered street lighting contract will be financed by a loan from the French bank to the Beninese State. This project follows on from a first French public finance contract for a major contract in Senegal.
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▪ Benin: Romuald Wadagni signs with Bpifrance to back Fonroche Eclairage ($22.8m)
▪ Fonroche’s solar-powered street lighting contract will be financed by a loan from the French bank to the Beninese State. This project follows on from a first French public finance contract for a major contract in Senegal.
▪ https://www.africabusinessplus.com/en/803219/benin-romuald-wadagni-signe-avec-bpifrance-pour-soutenir-fonroche-eclairage-20-millions-e/
Fonroche Eclairage has reached a tailor-made solution with the public bank Bpifrance to ensure payment of its contract by the Benin authorities. In January 2019, the group based in Roquefort, near Agen (south-west France), won a contract to supply 15,000 solar street lamps. On 24 February, Romuald Wadagni, Minister of the Economy and Finance, signed a framework financing agreement in Benin with representatives of Bpifrance which provides for a first line of credit. This line of credit, worth €20.6m (($22.8m), will enable the Beninese authorities to finance the contract awarded last year to Fonroche Eclairage following an international call for tenders in which around thirty companies took part.
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