Team Europe steps up support for strategic and sustainable investment by €300 million

Source: www.gulfoilandgas.com 1/16/2025, Location: Africa

The Government of the Republic of Côte d’Ivoire, the European Union and the European Investment Bank (EIB) have announced €300 million in new financing to support strategic sectors for Côte d’Ivoire, promoting climate action, sustainability in cocoa production and reforestation in the country.

This decision is part of Team Europe’s Global Gateway strategy in Côte d’Ivoire.

€150 million in financing will go to back Côte d’Ivoire’s forest preservation, restoration and expansion strategy.

This strategy is part of the Abidjan Legacy Program, launched by President Alassane Ouattara. The programme places particular focus on stopping deforestation and land degradation, reforesting and promoting agroforestry. It aims to restore over 7 million acres of forest (nearly 20% of the country’s surface area) by 2030.

This large-scale EIB financing package, backed by the European Union, is a tangible response lending strong support for the national reforestation and forest regeneration programme.

Côte d’Ivoire has received €50 million from the EIB to increase its equity in ATIDI.

Côte d’Ivoire’s decision to inject more equity capital into the African Trade & Investment Development Insurance (ATIDI) underscores its commitment to fostering sustainable trade and investment.

Increasing the country’s capital in ATIDI will support two key initiatives for Côte d’Ivoire:

The green transition, by enabling climate-friendly investments that align with Côte d'Ivoire's sustainable development goals while contributing to global climate action
Sustainable cocoa, by improving its production and helping ensure resilience and sustainability in one of the country's most important industries
This operation was made possible by an EU guarantee. It supports ATIDI’s mission to develop innovative solutions to mitigate risks, while contributing significantly to climate engagement – with at least 75% of the funds allocated to climate-focused initiatives.

A financial partnership with BNI granting €100 million will promote youth employment, gender equality, and economic and environmental sustainability in the cocoa sector.

Concluding this EU-backed financial partnership between BNI, Côte d’Ivoire's national investment bank, and the EIB will strengthen support for businesses, promote production that does not destroy forest, increase economic sustainability, and help fight child labour.

By mobilising EU and EIB resources, this partnership embodies Team Europe’s commitment to supporting Côte d’Ivoire as it transforms its agricultural value chains, especially for cocoa, aligning them with a fair, sustainable transition and economic model. This partnership also consolidates Côte d’Ivoire’s leading role in sustainable cocoa production at an international level.

More than 90% of the funds allocated under this operation will go to companies in the cocoa sector to meet the growing demand for sustainable cocoa, in line with stronger EU environmental and social standards and national legislation – especially to fight child labour and deforestation.

The financial partnership will be supplemented by a technical assistance programme to build capacity in cocoa SMEs and cooperatives, including those led by women entrepreneurs.

“I am delighted that the EIB is supporting projects that are so important for sustainable development and innovation in Côte d’Ivoire, like sustainable cocoa production and reforestation. The EIB is showing its determination to pursue the country’s priorities and a common vision that will have a real impact on the economy and the daily lives of residents,” said EIB Vice-President Ambroise Fayolle. “As a key partner in the EU Global Gateway initiative, our work in Africa is done through financing and expertise that we provide in priority areas like climate action – including climate change adaptation – innovation and the digital economy, renewable energy, water, agriculture and transport. Through our development arm, EIB Global, we can do even more to strengthen our partnerships at an international, national and local level.”

“I am pleased to see these three important Global Gateway initiatives taking shape in Côte d’Ivoire today. The members of Team Europe are working hand in hand with Côte d’Ivoire to support the country’s objectives in key areas, including the transition to renewable energy, sustainable cocoa production and reforestation. These projects demonstrate the European Union’s firm commitment to investing in sustainable action that promotes growth and job creation, and benefits the country’s people, while also driving the global fight against climate change,” stated Jozef Síkela, European Commissioner for International Partnerships.


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