The project involves the granting of a Partial Credit Guarantee (PCG) by the African Development Bank (AfDB) for an amount not exceeding EUR 400 million (approximately UA 322 million), for the mobilization of financing earmarked for environmental, social and governance (ESG) expenditure for the Republic of Côte d'Ivoire, in line with its ESG Framework. The proposed intervention is in line with donor assistance aimed at supporting the authorities in implementing the NDP 2021-2025. The AfDB GPC's additionality and comparative advantage are mainly financial, enabling Côte d'Ivoire to: (i) increase the liquidity available to Côte d'Ivoire from international investors, through the provision of a credit enhancement instrument; (ii) considerably extend the maturity of the ESG loan offered by commercial banks; (iii) reduce its interest rate, thereby reducing debt servicing for Côte d'Ivoire; (iv) diversify the mechanisms for mobilizing financing through sustainable loans and improved access to climate finance; and (v) build up its track record of ESG borrowings so that it can raise resources autonomously on the international financial markets in the future. The project contributes to climate finance, with 261 million USD of the total approved amount dedicated to adaptation.

Cote d'Ivoire

African Development Bank Group

Africa Sub-Saharan Africa

Environment and Pollution-Recycling Automobiles and Auto Parts Roads and Highways-Bridge Environmental Work Construction Energy-Power and Electrical Computer Hardwares and Consumables

11.07.2023

Original Url