AfDB approves US$117.3M facility to boost cocoa production, sustainability in Côte d’Ivoire
The financing package aims to strengthen cocoa supply chains, promote sustainability, and support over 50,000 smallholder farmers.
IVORY COAST – The African Development Bank Group’s (AfDB) Board of Directors has approved a €100 million agricultural facility for Sucres et Denrées Côte d’Ivoire, designed to boost cocoa production and strengthen sustainable farming practices in the world’s leading cocoa-producing country.
The financing package includes €25 million (US$29.3M) from the Africa Growing Together Fund, a co-financing initiative with the China Development Bank, and US$10 million from the Agribusiness Small and Medium Enterprise Catalytic Financing Fund.
Structured as a renewable two-year facility, it will expand pre-financing arrangements with cooperatives and local suppliers, addressing key financing gaps in a sector critical to Côte d’Ivoire’s economy.
Côte d’Ivoire accounts for more than 40% of global cocoa output, producing 2.3 million metric tons during the 2022–2023 season. Despite weather-related yield challenges, the country remains central to global chocolate production and international commodity markets.
The facility is expected to strengthen cocoa sourcing and export capacity while promoting sustainable practices, supply chain traceability, and climate resilience. It will also create employment opportunities in rural areas, particularly for youth and women.
Aligned with Côte d’Ivoire’s National Development Plan 2021–2025, which emphasizes agro-industrial diversification, the initiative contributes to the country’s target of achieving a 6.5% GDP growth rate in 2025.
The program is projected to increase export volumes by up to 10% annually and benefit more than 50,000 smallholder farmers by improving access to finance and technical support.
Beyond cocoa, the loan addresses liquidity constraints in West African markets, highlighting the sector’s potential to attract greater international investment into regional agricultural value chains.
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