Global Gateway: Côte d’Ivoire secures EUR 50 million EIB loan with ADITI to support low carbon transition, sustainable trade and investments

January 17, 2025 by European Investment Bank Leave a Comment

This article is published in association with European Investment Bank.

The Republic of Côte d’Ivoire has secured a EUR 50 million investment loan from the European Investment Bank (EIB) to increase its membership in the African Trade & Investment Development Insurance (ATIDI). This operation was made possible thanks to a European Union guarantee in the framework of the EU Global Gateway Strategy. This strategic move underscores Côte d’Ivoire’s commitment to fostering sustainable trade and investment and beyond, to enhance economic resilience across Africa.

This action contributes to the implementation of the Global Gateway strategy, which promotes investment notably in the climate, energy, transport, and digital sectors through a Team Europe approach – bringing together the EU, its Member States, and their financial and development institutions – in view of boosting an inclusive growth and job creation. Côte d’Ivoire became a Member State of ATIDI, the leading pan-African multilateral development insurer, in 2019. The capital injection will support two transformative Team Europe Initiatives in Côte d’Ivoire:

Low Carbon Transition, to enable climate-friendly investments that align with Côte d’Ivoire’s environmental and sustainable development goals as delineated in the country’s ambitious national development plan 2021 – 2025 and contribute to global climate action.
Sustainable Cocoa, to enhancesustainable cocoa production, ensuring resilience and sustainability in one of the country’s most important industries.

This operation reinforces ATIDI’s mission to promote innovative solutions for risk mitigation, while making a significant contribution to EIB’s Climate Action commitment, with at least 75% of the funding allocated to climate-focused initiatives. Côte d’Ivoire’s capital injection will unlock up to EUR 550 million in additional insurance and guarantee solutions, directly benefiting the country and the wider region.

“As the climate bank, the European Investment Bank is very pleased to finance the African Trade and Investment Development Insurance, which supports the concrete actions of States, particularly those of Côte d’Ivoire.” said Vice-President Ambroise Fayolle. He added: “We are very happy to sign this new partnership with the Ivorian government to support its low-carbon transition and its sustainable cocoa value chain. In promoting innovative solutions for risk mitigation, we contribute to strengthening our support for businesses and concrete projects on key sectors for Côte d’Ivoire.”

“This move towards low carbon and sustainable trade in Côte d’Ivoire illustrates what the Global Gateway strategy is about: investing in secure and sustainable connections that work for people and the planet while boosting competitiveness, job creation and security of supply chains like the cocoa one” said Jozef Síkela, European Commissioner for International Partnerships.

Quote from Manuel Moses, CEO, ATIDI

“This partnership exemplifies ATIDI’s dedication to rethinking risk and providing solutions that unlock Africa’s potential. With the support of the EIB and the Republic of Côte d’Ivoire, we are not only strengthening our shareholder base but also paving the way for increased trade, investment, and sustainable development. The additional insurance and guarantee capacity will have a transformative impact on key sectors, particularly in advancing climate action and fostering sustainability in cocoa production.”

ATIDI and the EIB share a history of impactful collaboration, EIB having supported the membership of Benin, Burkina Faso, Cameroon, Chad, Niger, Senegal, and Togo. In total, EIB has financed EUR 145 million towards countries’ membership in ATIDI, especially in the West and Central Africa region.

Côte d’Ivoire’s increased membership in ATIDI is part of its broader strategy to leverage sustainable financing for development. This is the second sovereign operation for the country in 2024, following the EUR 150 million EIB loan for the Programme de Restauration durable des Forêts signed in November aiming at halting deforestation across Côte d’Ivoire. This further emphasizes the country’s commitment to sustainable growth and environmental preservation.

About ATIDI

ATIDI was founded in 2001 by African States to cover trade and investment risks of companies doing business in Africa. ATIDI predominantly provides Political Risk, Credit Insurance and Surety Insurance. Since inception, ATIDI has supported USD85 billion worth of investments and cross border trade into Africa. For over a decade, ATIDI has maintained an ‘A/Stable’ rating for Financial Strength and Counterparty Credit by Standard & Poor’s, and in 2019, ATIDI obtained an A3/Stable rating from Moody’s, which has now been upgraded to A2/Positive.

For more on ATIDI, visit: www.atidi.africa

ATIDI product brochure: https://www.atidi.africa/our-solutions/

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