Bird & Bird advises African Development Bank on €100 million financing to strengthen Côte d'Ivoire cocoa sector

Bird & Bird advised the African Development Bank in connection with the approval by its Board of a €100 million renewable financing facility for Sucres et Denrées Côte d'Ivoire. The facility combines AfDB direct financing 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 Agricultural SME Catalytic Financing Mechanism (ACFM). It will expand pre-financing agreements with cooperatives and local suppliers to address financing shortfalls in a sector that is vital to the Ivorian economy. As the world's leading cocoa producer, accounting for over 40% of global output (2.3 million tonnes in 2022–2023), Côte d'Ivoire will see significant reinforcement of its sourcing and export capacities. The operation is expected to increase export volumes by about 10% per year and to benefit more than 50,000 smallholders through greater access to finance and strengthened technical assistance. Beyond economic aims, the facility promotes sustainable practices by improving supply-chain traceability, enhancing climate resilience and creating rural employment opportunities, with a particular emphasis on empowering youth and women. The transaction forms part of Côte d'Ivoire's 2021–2025 National Development Plan, which prioritises agro-industrial diversification to achieve 6.5% GDP growth by 2025, and signals growing international investor interest in the African agricultural sector and regional value-chain investment. Bird & Bird represented the African Development Bank with a team composed by: Boris Martor, associate; Sébastien Hoff, counsel; Kenza Fradji, collaborator.

Bird & Bird advises African Development Bank on €100 million financing to strengthen Côte d'Ivoire cocoa sector

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