The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IDB), and the Ivorian government have signed a framework agreement for $750 million to support the implementation of the National Development Plan (NDP) 2026-2030, according to a statement released on Thursday, June 18. Signed on the sidelines of the IDB Group’s 2026 Annual Meetings in Baku, this commitment aims to strengthen strategic sectors of the Ivorian economy and promote growth driven by the private sector.
With a budget of $750 million, this new agreement represents a tripling of the amount of the previous cooperation framework signed in 2023. It thus illustrates the continued strengthening of the partnership between ITFC and Ivory Coast, as well as the confidence in the results achieved through previous interventions.
Among the sovereign operations currently underway is an energy financing facility of 90 million euros, intended for the acquisition of petroleum and gas products necessary for electricity production. This operation, carried out with CI-Energies and the Ivorian Electricity Company (CIE), contributes to consolidating the country’s energy security.
In the health sector, ITFC also supports the New Public Health Pharmacy of Ivory Coast (Nouvelle PSP-CI) through a 25 million euro facility. This financing aims to improve access to essential medicines and strengthen the national pharmaceutical supply chain.
The institution is also expanding its trade finance activities for the private sector through partnerships with several local banks, including Bank of Africa Ivory Coast, Bridge Bank Ivory Coast, and Coris Bank Ivory Coast, as well as through structured financing operations.
Since starting its activities in Ivory Coast in 2008, ITFC has approved over $751 million in financing for sovereign projects and the private sector. The new framework agreement now provides an expanded platform to support the country’s industrialization ambitions, accelerate the development of agro-industrial sectors, and support the growth of the private sector through enhanced trade finance solutions.
