The ECOWAS Investment and Development Bank (BIDC) and CORIS Bank International Côte d'Ivoire granted a loan facility worth 58 million euros to Atlantic Cocoa Corporation in the Republic of Côte d'Ivoire.

Approved during the 89th ordinary session of the Bank's Board of Directors on Tuesday, October 1, 2024, this syndicated loan is intended to finance the construction and operation of a cocoa processing plant in San Pedro by Cocoa Atlantic Société Côte d'Ivoire. It is part of the efforts made by the BIDC to support Côte d'Ivoire in the development of key industries in order to create jobs and stimulate economic activity

In his speech, Dr. George Agyekum Donkor, President of the BIDC and its Board of Directors, emphasized that this syndicated loan agreement is fully in line with the Bank's strategic vision of investing in the growth clusters of ECOWAS member states. Thanks to this financing, more than 74 new permanent jobs and 96 daily jobs will be created, thus contributing to the generation of more than 158 million euros in national added value, and to improving the trade balance

To date, the BIDC's commitments to private and public sector projects in the Republic of Côte d'Ivoire amount to a total of approximately USD 710 million, and it remains true to its mandate to promote economic development throughout the ECOWAS region.