The goal is to fund green projects, cut carbon emissions, strengthen climate resilience, and encourage a green economy. While the fund is a significant step forward, it still falls short of Côte d’Ivoire’s financial needs. To meet its NDC targets, the country needs around $4 billion each year through 2030, totaling $22 billion.

Cocoa, cashews and miracle football wins may be top of mind for most when thinking Côte d’Ivoire, but the West African country is working hard to change that to development and diversification through renewable energy.

At a meeting of the Council of Ministers on 28 February 2024, the Ivorian government approved a socio-economic development policy for the east of the country, focusing on sustainability. Households and economic activities in this part of Ivory Coast will be powered by photovoltaic solar energy.

The International Finance Corporation (IFC) and the Emerging Africa Infrastructure Fund (EAIF) are investing more than €91 million in the first securitisation of the Electricity for All Programme (PEPT) in Ivory Coast:. This transaction, denominated in local currency, is aimed at electrifying 800,000 households.

The Ivorian unit of the France-based renewable energy company Baobab+ recently borrowed EUR 1.2 million (USD 1.3 million) from Dutch cooperative investor Oikocredit. Baobab+ is active in six African countries, primarily selling solar panel kits, solar lamps and touchscreen tablets. The firm sells many of these items on a pay-as-you-go basis.

Up to 40,000 off-grid households in rural and semi-urban areas across Côte d’Ivoire will soon have access to energy and digital platforms as a result of a new loan from Oikocredit to Baobab+ Cote d’Ivoire (Baobab+ CI). Oikocredit has made € 1.2 million available in fresh funding to the Ivorian affiliate of Baobab+ SAS.

Between 2023 and 2025, the Dutch government will finance 43 projects led by young entrepreneurs in Ivory Coast to the tune of 400 000 euros. The aim is to accelerate sustainable development in this West African country.

The money would go toward giving 739 rural communities access to affordable, clean electricity. The monies comprise an $ 8.26 million loan and a $ 2.27 million grant.