Côte d’Ivoire: IFC Plans $88 Million Financing for Cocoa Processing Plant Expansion

The International Finance Corporation (IFC) is preparing an investment of up to €75.25 million (approximately $88.34 million) in favor of Guan Chong Berhad (GCB), a Malaysian group and one of the world’s largest cocoa processors, through its subsidiaries Guan Chong Cocoa Côte d’Ivoire and GCB Cocoa Singapore. The financing is intended to support the second phase of the expansion of the San Pedro cocoa processing plant, which has been operational since 2023.

The transaction, announced on Wednesday, 10 December 2025, is subject to final approval by the World Bank Group’s private sector arm. It consists of a €45 million secured senior loan from IFC’s own account, complemented by a €30.25 million unfunded risk participation, as part of a structured trade finance program of up to €60.5 million, arranged in partnership with a commercial bank.

The plant plays a central role in the processing of cocoa for export and in promoting a sustainable cocoa value chain. Its expansion is expected to improve local producers’ access to international markets, strengthen the production of sustainable cocoa beans, and increase local processing capacity, thereby generating greater domestic value addition and new jobs.

The initiative also aims to strengthen Côte d’Ivoire’s position in the global cocoa market by promoting environmentally and socially responsible practices. Stakeholders in the cocoa sector will be required to comply with the seven requirements of the European Union Deforestation Regulation (EUDR), including land-use rights compliance, environmental protection, third-party and labor rights, human rights, free and informed consent of indigenous peoples, as well as regulations related to taxation, anti-corruption, and trade.

Côte d’Ivoire accounts for around 40% of global cocoa supply, with production reaching 1.67 million tonnes in the 2023/2024 season and nearly 1.85 million tonnes in 2024/2025, according to data compiled by the International Cocoa Organization (ICCO).