Bird & Bird Advised African Development Bank On €100 Million Financing To Strengthen Cocoa Sector In Côte d’Ivoire
Bird & Bird advised African Development Bank on €100 million financing to strengthen cocoa sector in Côte d’Ivoire
The major international law firm, Bird & Bird advised the African Development Bank on the approval by its Board of Directors of a €100 million financing facility for Sucres et Denrées Côte d'Ivoire, the world's leading cocoa producer.
In addition to direct financing from the African Development Bank, the revolving facility includes €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 financing will expand pre-financing agreements with local cooperatives and suppliers, addressing critical gaps in a sector vital to the Ivorian economy.
Côte d’Ivoire, producing over 40% of global cocoa (2.3 million tonnes in 2022–2023), will benefit from strengthened supply and export capacities. The project is expected to increase export volumes by 10% per year and support more than 50,000 small producers through enhanced financing and technical assistance.
The facility also promotes sustainable practices by improving supply chain traceability, strengthening climate resilience, creating rural employment opportunities, and empowering youth and women. This project aligns with Côte d’Ivoire's 2021–2025 National Development Plan, which focuses on agro-industrial diversification to achieve GDP growth of 6.5% in 2025, while encouraging further international investment in the regional agricultural sector.
The Bird & Bird team advising the African Development Bank included Boris Martor (Partner), Sébastien Hoff (Counsel), and Kenza Fradji (Associate).
Bird & Bird is a global law firm founded in London in 1846, renowned for supporting tech-driven businesses. The firm has strong practices in intellectual property (IP), technology, media & telecommunications (TMT), and key sectors such as Life Sciences and Energy. With a "one-firm" culture, Bird & Bird has over 1,400 lawyers across more than 30 offices worldwide, spanning Europe, Asia, the Middle East, and North America, offering integrated legal and industry expertise to address the challenges of the digital age.
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