Bird & Bird advises African Development Bank on €100 million facility to strengthen Ivory Coast cocoa sector

Bird & Bird advised the African Development Bank on the Board of Directors' approval of a €100 million financing facility for Sucres et Denrées Côte d'Ivoire. The transaction consists of a €100 million revolving facility that combines direct financing from the African Development Bank with €25 million from the Africa Growing Together Fund (AGTF), a joint initiative of the African Development Bank and the China Development Bank, and $10 million from the Agri‑Food SME Catalytic Financing Mechanism (ACFM). The facility will expand pre‑financing agreements with local cooperatives and suppliers to address financing gaps in Ivory Coast's cocoa sector. As the world's leading cocoa producer, accounting for more than 40% of global production, Ivory Coast is expected to see strengthened supply and export capacity under the project. The operation is projected to raise export volumes by around 10% per year and to benefit more than 50,000 small producers through increased financing and enhanced technical assistance. Beyond economic objectives, the facility promotes sustainable practices by improving supply chain traceability, reinforcing climate resilience and generating rural employment, with particular emphasis on youth and women. The financing supports Côte d'Ivoire's 2021–2025 National Development Plan, which prioritises agro‑industrial diversification and targets GDP growth of 6.5% in 2025. The transaction also highlights increasing investor interest in the African agricultural sector and is expected to encourage further investment along the regional agricultural value chain. Bird & Bird represented the African Development Bank with a team composed by: partner Boris Martor, Counsel Sébastien Hoff, and associate Kenza Fradji.

Bird & Bird advises African Development Bank on €100 million facility to strengthen Ivory Coast cocoa sector

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