Signature(s)
Summary sheet
- Services - Financial and insurance activities
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.
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).
The operation aims at financing the purchase of additional shares of the African Trade and Investment Development Insurance (ATIDI) by the Republic of Cote d'Ivoire thereby enabling the country to have access to additional insurance and guarantee instruments in favour of both its public and private sectors.
This operation will directly benefit sectors in line with the EU's Low Carbon Transition Team Europe initiative (up to 75%) and on a best effort basis to the Sustainable Cocoa Team Europe Initiative (TEI). By supporting the Low Carbon Transition TEI in particular, the operation will be aligned with Cote d'Ivoire's National Development Plan spanning 2021-25 and with the country's ESG strategy renewed in 2023.
In addition, the operation is expected to benefit directly foreign direct investors and trade business operators, including European ones who seek to reduce the risk of their activities thanks to the insurance and guarantee instruments offered by ATIDI.
The operation helps to fulfil a wide range of Sustainable Development Goals (SDGs), most notably SDG 7 Affordable and clean energy, SDG 8 Decent work and economic growth, SDG 9 Industry , innovation and infrastructure and SDG 13 Climate change mitigation.
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.
The promoter will have to ensure that implementation of the project will be done in accordance with EIB's Guide to Procurement.
Under EFSD+ Guarantee