Global Gateway: BNI and EIB join forces to promote sustainable cocoa and youth employment in Côte d’Ivoire

Today the national investment bank of Côte d'Ivoire, Banque Nationale d'Investissement (BNI), and the European Investment Bank (EIB) announced a €100 million financial partnership backed by the European Union to promote youth employment and gender equality, and to increase economic and environmental sustainability in the cocoa sector.

Made possible by an EU guarantee, the operation helps implement the Global Gateway strategy, which aims to foster investment in global supply chains by ensuring the highest environmental and labour standards.

This loan by the EIB and BNI is part of the EU Sustainable Cocoa Initiative, which promotes cocoa production without deforestation, as well as economic sustainability and the fight against child labour. Mobilising EU and EIB resources, the partnership embodies the Team Europe commitment to Côte d'Ivoire as it transforms agricultural value chains - especially for cocoa - to transition to a sustainable and equitable economic model, and to consolidating the country's position as a global leader in sustainable cocoa production.

Over 90% of funds under the operation will go to firms in the cocoa sector to meet the growing demand for sustainable cocoa produced under new EU environmental and social standards and national legislation, especially to fight child labour and deforestation.

The project will promote entrepreneurship and employment of youth and women by offering new economic and social opportunities, which are essential for sustainable economic growth. At least half the funds will go to firms run by or mainly employing young people.

The financial partnership will be supplemented with a technical assistance programme for capacity building among cocoa sector SMEs and cooperatives, especially those run by women entrepreneurs. It will help them create viable business plans, structure financing applications efficiently and meet future environmental and social requirements for products exported to EU Member States.

This operation also complements the recently forged partnership between BNI and Agence française de développement (AFD) to support BNI's climate strategy, finance projects that advance the transition to a resilient, low-carbon economy, and promote women's access to financing.

BNI CEO Youssouf Fadiga said: "This project is not an isolated operation, but is rather part of a shared vision of BNI and the EIB. As a development finance institution, the EIB has always been a trusted partner for major infrastructure projects, and in the areas of sustainability and social responsibility. By combining its expertise with BNI's knowledge of the field and local roots, we can bring this ambitious initiative to fruition."

"This agreement with BNI in Côte d'Ivoire will help increase sustainable cocoa production and bring it in line with the higher EU environmental and social standards, while promoting entrepreneurship and employment among young people and women.This large-scale funding project is part of the Global Gateway strategy. It aims to transform agricultural value chains, especially cocoa value chains. By shifting them towards a more sustainable and equitable economic model, it will consolidate Côte d'Ivoire's leading role in sustainable cocoa production," said EIB Vice-President Ambroise Fayolle. "This new financing deal reaffirms the EIB's strong commitment to supporting its African partners in their inclusive, environmentally friendly economic development."

"Creating new, quality jobs and sustainable supply chains for cocoa is a key priority in the partnership between the European Union and Côte d'Ivoire. And this cooperation serves precisely that aim.Together, through the Team Europe approach, it will help us build a better future for our partner countries," said Jozef Síkela, European Commissioner for International Partnerships.

Background information

About EIB Global

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by the Member States. It finances investments that pursue EU policy objectives.

EIB Global is the EIB Group's specialised arm devoted to increasing the impact of international partnerships and development finance, and a key partner in the Global Gateway. It aims to support €100 billion of investment by the end of 2027 - one-third of the overall target of this EU strategy. It is designed to foster strong, focused partnership within Team Europe alongside fellow development finance institutions and civil society. EIB Global brings the EIB Group closer to people, companies and institutions through its offices around the world.

About Banque Nationale d'Investissement

BNI, the people's bank of Côte d'Ivoire, has played a central role in financing the country's social and economic development since it was founded in 1959.

Focusing on strategic projects and structural investment, BNI actively contributes to modernisation and economic growth in Côte d'Ivoire, confirming its position as a trusted partner of the government and a key player in the national financial system.

Its main goals include financing development projects, supporting small and medium-sized enterprises (SMEs) and mid-caps, providing banking services to the population and promoting financial inclusion.

BNI offers a wide range of solutions tailored to the needs of individuals, businesses and public sector bodies. Via its two subsidiaries - BNI Gestion (asset management) and BNI Finances (investment and advisory) - it provides specialised services enabling its partners to optimise growth and investment opportunities.

With its network of 57 branches and over 160 state-of-the-art cash points and digital service spaces across the country, BNI has a mission to be there for its customers, offering them quality and secure service.

A key partner for the Côte d'Ivoire government on various development issues, it manages 15 national sector development funds of loans, investments and guarantees on behalf of the state.

Combining a local presence with innovation and expertise, BNI has secured its position as a trusted partner with the goal of becoming a reference point in banking for the sub-region. For more information, visit www.bni.ci.

About EU priorities in Côte d'Ivoire

The European Union's partnership with Côte d'Ivoire is guided by the Multiannual Indicative Programme for 2021-2027, and focuses on three priority areas:

• human capital, with initiatives in education, technical and vocational training, social security and migration
• sustainable and inclusive growth, with initiatives for the business environment, agriculture and the green transition
• democratic governance, peace and security

Team Europe focuses on three key areas in Côte d'Ivoire: sustainable cocoa, the green transition, and peace and stability.

Launched in late 2021, the EU Global Gateway strategy aims to boost smart, clean and secure links in and with partner countries, in the digital, energy and transport sectors. It also seeks to strengthen systems for healthcare, education and research across the globe. Global Gateway aims to mobilise up to €300 billion in investment by 2027 through a Team Europe approach - bringing together the European Union, the Member States and their financial and development institutions.

With the new Neighbourhood, Development and International Cooperation Instrument - also known as Global Europe - the European Union, the Member States (including their agencies and public development banks) and the EIB are mobilising the private sector to promote local added value, sustainable growth and job creation. In identifying, co-financing and carrying out projects, the private sector plays a key role in operationalising this strategy in Côte d'Ivoire.

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