Côte D’ivoire: African Development Bank extends €400 million in partial credit guarantees to mobilize funds for ESG Projects.

July 17, 2023 AELEX Admin 0 Comments

The Board of Directors of the African Development Bank Group has approved a €400 million partial credit guarantee for Côte d’Ivoire, to support the mobilization on international financial markets of financing for strategic environmental, social and governance (ESG) projects. The approval came on 12 July 2023. The partial credit guarantee will enable Côte d’Ivoire to raise long-term financing from commercial banks, in line with its ESG Framework. Côte d’Ivoire has developed an ESG Framework Document that sets out the government’s commitment to environmental and social development, and strengthens governance, including for project selection, fund management, evaluation and monitoring The funds will support projects across a range of sectors, including sustainable agriculture and agro-industry, water and sanitation, renewable energy, health, affordable housing, education and vocational training, financial inclusion and entrepreneurship. Financing will also drive job creation for youth and women in rural areas of the country. Read More

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