Côte d’Ivoire Signs Its First Sustainability-Linked Loan Worth $505 Million with Standard Chartered

Côte d’Ivoire has signed its first-ever sustainability-linked loan, worth €433.3 million (around $504.6 million), with Standard Chartered Bank. Announced on Tuesday, September 2, 2025, the deal is backed by the World Bank through two of its institutions: the International Bank for Reconstruction and Development (IBRD) and the Multilateral Investment Guarantee Agency (MIGA).

The IBRD is providing a first-loss guarantee of €260 million, while MIGA offers a second-loss guarantee covering €372.9 million. These guarantees, which span 15 years, help reduce the financial risk for investors and allow Côte d’Ivoire to access better loan terms.

Green Targets Tied to Loan Conditions

This loan is designed to support green job creation, strengthen climate resilience, and attract private investment aligned with Côte d’Ivoire’s sustainable development goals. According to Hiroshi Matano, Executive Vice President of MIGA:
"By combining guarantees from both IBRD and MIGA for the first time, we’re helping Côte d’Ivoire secure better financing, accelerate its climate commitments, and build resilience in key sectors."

The loan follows the structure of a Sustainability-Linked Loan (SLL), meaning the interest rate depends on the country's progress toward specific environmental goals. If Côte d’Ivoire exceeds its targets, the interest rate will go down ("step-down"). If it fails to meet them, the rate will increase ("step-up").

Progress will be tracked through annual reports from the Ministry of Finance, supported by satellite monitoring and geospatial technology.

Two Key National Targets by 2030

Côte d’Ivoire has committed to two main goals by 2030:

1.      Increase the share of non-hydro renewable energy from 1% (in 2023) to 11% of installed electricity capacity.

2.      Limit forest loss to 300,000 hectares, while restoring one million hectares of forested land.

This loan is part of a broader strategy launched in July 2025, when Côte d’Ivoire introduced its national framework for sustainability-linked financing in partnership with the World Bank. It also complements other green finance efforts, such as the country’s first debt-for-development swap issued earlier in 2025.