Sustainability Linked Loan project (MIGA-15567)

Countries
  • Ivory Coast
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
C
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
Borrower information not provided at the time of disclosure
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 491.33 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 433.4
Converted using 2025-04-14 exchange rate.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Oct 29, 2026

Disclosed by Bank Apr 14, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, this summary is related to an application requesting MIGA to provide a Non-Honoring of Sovereign Financial Obligation (NHFO-SFO) guarantee to commercial lender(s) yet-to-be-identified (the Lenders). The guarantee will cover a sustainability-linked loan (SLL) of up to EUR433.4 million (the Loan) to be provided to the Ministry of Finance and Budget (MoF) of the Republic of Cote d'Ivoire (CdI). The contemplated final maturity of the SLL is 15 years. The MoF is currently finalizing the selection process for potential lenders, which should be selected shortly.

The Republic of CdI, in collaboration with the World Bank Group, has developed its first Sustainability-Linked Financing Framework (SLF). This framework allows the Republic of CdI to access financing for its development priorities at potentially more favorable terms by linking financial conditions to the achievement of clearly defined Sustainability Performance Targets (SPTs) in the fields of (i) renewable energy production (excluding hydropower), and (ii) deforestation prevention and reforestation. The SLF supports the country's ambitious sustainability commitments, including a national greenhouse gas (GHG) emissions reduction target of more than 30% by 2030, with the energy and forestry sectors being among the largest contributors to national GHG. This SLF will be reviewed by an external third-party, which will provide a Second-Party Opinion to confirm the Framework's credibility and alignment with the ICMA and LMA principles. The SLL will be the inaugural transaction under the SLF framework and will benefit from a first-loss guarantee from the International Bank of Reconstruction and Development (IBRD) of up to EUR260 million, as well as the MIGA NHFO-SFO guarantee, which will be provided as a second loss guarantee.

For this Project, the Republic of CdI may use the SLL for eligible expenditures in the health and education sectors, in line with the country's strategic priority to enhance human capital and improve the population access to essential social services.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

*Contact information not provided at the time of disclosure*

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://www.miga.org/contact/access_to_information

You can also request general information about MIGA and for information on guarantees by emailing: migainquiry@worldbank.org

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works