Active Development AidData Chinese Aid

Africa Growing Together Fund provides EUR 33.6 million loan for Agro-Industrial Pole Project in the North of Ivory Coast (Linked to Umbrella Record ID#36104)

$33.6M USD

Funder	People's Bank of China (PBC)
Recipient Organization	Government of Côte d'Ivoire (Ivory Coast)
Country	Cote d'Ivoire
Start Date	Feb 18, 2022
End Date	Apr 06, 2032
Duration	3,700 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`102661`

Grant Description

Africa Growing Together Fund provides EUR 33.6 million loan for Agro-Industrial Pole Project in the North of Ivory Coast On May 22, 2014, the African Development Bank (AfDB) and the People's Bank of China (PBOC) signed an agreement for the Africa Growing Together Fund (AGTF) (see Umbrella Record ID#36104).

The purpose of this $2 billion loan facility was to finance large development projects in Africa between 2014 and 2024. The AGTF is sponsored by the PBOC and the administered by AfDB.

Then, on February 18, 2022, AGTF signed an EUR 33.6 million million loan agreement (ID#5050200001302) with the Government of Côte d'Ivoire for the Agro-Industrial Pole Project in the North of Ivory Coast (2PAI-NORD).

On the same day, the African Development Bank (AfDB) issued two additional loans — an EUR 42 million loan (ID#2000200005162) and an EUR 12 million loan (ID#2100150042753) to the Government of Côte d'Ivoire for the same project.

📋 Loan / Grant Terms

💰 Loan Amountis follows: an 25-year maturity

📅 Maturity25 years

⏳ Grace Period8 years

The project has four components: (a) Support to the private sector and institutions in charge of agro-industrial development; (b) Strengthening of agro-sylvo-pastoral and fisheries value added and marketing; (c) Sustainable improvement of agro-pastoral and fisheries productivity; and (d) Coordination, management and monitoring and evaluation.

The overall objective of the project is to help increase the country's food and nutrition security, reduce its dependence on food imports and increase exports of agricultural products that have a competitive advantage.

The specific objectives are to: (i) increase private investment, particularly in the processing of targeted agricultural products (rice, maize, meat/fish, cashew nuts, mango and shea); (ii) facilitate access to markets for agro-pastoralists by providing infrastructure, structuring the sector and building capacity; (iii) increase the agro-pastoral sector’s productivity by upgrading hydro-agricultural facilities, facilitating access to agricultural inputs and services, and improving community resilience.

The Government of Côte d'Ivoire is responsible for implementation.

As of December 2023, three disbursements supporting 12.73% of the project cost had taken place but project implementation had not yet began.

The project’s originally scheduled commencement and completion dates were February 18, 2022 and December 31, 2026, respectively.

However, project implementation was rescheduled to commence in January 2024 following the implementation of the Resettlement Action Plan (RAP).

📋 Staff Comments

The AfDB project identification number is P-CI-AA0-030.
The total cost of the project is estimated at EUR 239.99 million (approximately XOF 157.4 billion), comprising an AfDB loan of EUR 42.0 million, an ADF loan of EUR 12.0 million, an Africa Growing Together Fund (AGTF) loan of EUR 33.6 million, an OPEC Fund loan of EUR 51.8 million, an ECOWAS Bank for Investment and Development (EBID) loan of EUR 72.5 million, a grant from Saemaul Globalization Foundation(Republic of Korea) of EUR 6.0 million, and State counterpart funding of EUR 22.1 million.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.
The margin of 1% is calculated by adding the Funding Cost Margin (unknown) to the Loan Margin (0.8%) and Maturity Bonus (0.2%).
The French project title is Projet de Pôle Agro-Industriel dans le Nord de la Côte d’Ivoire.
The AMP (PGA) project identification number is 1120071342318.
The DMFAS identification number for the project is ADB222128.
The SYGADE identification number is BAD222128.

📚 Sources & References

2 P AI Nord _ Projet de Pôle Agro-Industriel dans le Nord de la Côte d’Ivoire
RAPPORT D’EVALUATION DU PROJET
Côte d'Ivoire - Agro-Industrial Pole Project in the North (2PAI-NORD)
PROJECT APPRAISAL REPORT
RAPPORT SUR L’ETAT D’EXECUTION ET SUR LES RESULTATS (EER), 2 PAI Nord Projet de Pôle Agro-Industriel dans le Nord de la Côte d’Ivoire Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.