BAKU, Azerbaijan, January 17. Côte d’Ivoire has secured a 50 million euro loan from the European Investment Bank (EIB) to expand its membership in the African Trade & Investment Development Insurance (ATIDI), a key step toward strengthening sustainable trade and investment across Africa, Trend reports.
Supported by the EU’s Global Gateway Strategy, this move highlights Côte d’Ivoire’s dedication to fostering economic resilience and advancing climate and development goals.
The capital injection will fund two pivotal initiatives:
- Low Carbon Transition: Driving climate-friendly investments aligned with Côte d’Ivoire’s development plan (2021–2025) and global climate action goals.
- Sustainable Cocoa: Enhancing sustainability in cocoa production, a vital industry for Côte d’Ivoire.
This partnership, supported by the EU’s Team Europe approach, underscores ATIDI’s role in mitigating investment risks and the EIB’s commitment to climate action. The funding will unlock up to 550 million euros in insurance and guarantees, catalyzing projects in key sectors.
“This collaboration reinforces Côte d’Ivoire’s journey toward sustainable development,” said EIB Vice-President Ambroise Fayolle, emphasizing its impact on climate and cocoa value chains.
ATIDI CEO Manuel Moses praised the partnership’s transformative potential, noting its role in driving investment and sustainable growth.
This initiative builds on Côte d’Ivoire’s broader sustainable financing strategy, following a 150 million euro EIB loan in November to combat deforestation. It solidifies the country’s position as a leader in sustainable development and economic transformation.