Cote d’Ivoire African Development Bank’s Green Banks Initiative

At the heart of the Paris Agreement, are the Nationally Determined Contributions (NDCs), which embody efforts by each country globally to reduce emissions and adapt to the impacts of climate change. To help its regional member countries pursue mitigation measures to achieve the objectives of their NDCs, the African Development Bank Group (AfDB) has launched the African Green Bank Initiative.

The model, which was presented on the sidelines of the COP 17 in Egypt, aims to deploy green finance across the continent. This initiative which is part of the African Financial Alliance on Climate Change (AFAC), will be supported by the African Green Finance Facility Fund (AG3F) and its $1.5 billion due to close in 2025.

Through this initiative, the AfDB will be providing governments and financial institutions with technical assistance grants, fundraising support, and co-financing opportunities for green projects. The first green finance facilities are to be rolled out in two public financial institution in Benin and Cote d’Ivoire, La Caisse des Dépôts et Consignations du Bénin (CDC Benin) and the Ivorian National Investment Bank (BNI).

The Green Bank Initiative will bolster the capacity of local financial institutions to build a robust pipeline of bankable green projects thereby enabling private sector actors to have their green projects financed in Africa.

U.S. companies interested in learning more about the AfDB’s Green Bank Initiative please contact our U.S. Commercial Specialist Elvire Kodio at Mailto:Elvire.Kodio@trade.gov For those interested in learning more about opportunities within the Ivoirian market please contact our Commercial team at Embassy Abidjan at OuattaraY@state.gov.