Release date: 10 October 2024
Promoter – Financial Intermediary
AFRICAN TRADE INSURANCE AGENCYLocation
Description
The project will finance the country's membership capital increase in the African Trade and Investment Development Insurance (ATIDI)'s equity. Through this operation, Cote d'Ivoire will get additional access to ATIDI's guarantee and trade insurance products for private and public sector investments in the country.
Objectives
The operation will benefit : i) local private sector actors, including micro, small and medium-sized enterprises (MSMEs), by providing an extensive set of financing tools for investment and trade; ii) foreign investors, by enhancing access to foreign direct investment (FDI) for the country's economy. In addition, ATIDI can support Public-Private Partnerships (PPPs) projects complementing funding from development finance institutions (DFIs) and commercial banks, for example in the energy sector. With a focus on its low carbon transition initiative (up to 75%), the operation is in line with the country's Environmental, social, and governance (ESG) strategy and the EU policy for Côte d'Ivoire. The operation also aim at supporting on a best effort basis the sustainable cocoa sector. Hence, the project contributes to several Sustainable Development Goals (SDGs), such as inclusive economic growth (SDG 8), poverty reduction (SDG 1) and climate action (SDG 13).
Sector(s)
- Services - Financial and insurance activities
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 105 million
Environmental aspects
By bringing a positive impact on climate and environment, the project contributes to climate action and environmental sustainability objectives, in particular to climate mitigation, climate adaptation, renewable energy, pollution prevention and control programmes.
Procurement
The promoter will have to ensure that implementation of the project will be done in accordance with EIB's Guide to Procurement.
Status
Signed - 27/12/2024
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).