IFC and Proparco Partner with Groupe Duval to Support Green, Modern, Mixed-Use Construction in Côte d’Ivoire

Abidjan, Côte d'Ivoire, May 13, 2025 - To support green, modern, mixed-use construction in Côte d'Ivoire, IFC and Proparco today announced a partnership with Groupe Duval that will help address the strong demand for quality office space, retail space, and serviced apartments in Abidjan, supporting job creation and the country's hospitality and business tourism sectors.

Following the construction of the EDGE-certified mixed-use Inzovu Mall in Rwanda, this is the second time that IFC and Proparco are supporting Groupe Duval. Under the partnership, IFC and Proparco will jointly loan Groupe Duval up to EUR 32.6 million (EUR 16.3 million each, about $17.6 million equivalent) to support the construction of Village Notre Père, a modern shopping, office, and living space across about 21,000 square meters in Abidjan's Plateau business district.

IFC will also assist Duval to achieve EDGE green building certification and build its capacity on environmental and social performance, including by helping it develop more gender-inclusive human resources policies.

An estimated 30 percent of the project's area will be rented by Odalys City, a serviced apartment hotel brand of the Groupe Duval, reaffirming the group's interest in growing its hospitality business in Africa.

"Proparco is pleased with the dynamic partnership with Groupe Duval. We are proud to support the real estate project 'Village Notre Père,' which will undoubtedly strengthen the offer of modern and sustainable infrastructure in the Plateau area and enhance Abidjan's international influence," said Françoise Lombard, Proparco Chief Executive Officer.

Ethiopis Tafara, IFC Vice President for Africa, said, "This investment highlights IFC's dedication to advancing Côte d'Ivoire's urbanization goals, sustainability and gender issues by implementing EDGE green building certification and creating human resources policies that are inclusive of gender considerations."

As of March 2025, IFC had an active investment portfolio of $780 million in Côte d'Ivoire, focusing on housing, agricultural value chains, infrastructure (including digital), capital market development, health, creative industries, and access to finance for SMEs.