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Ivory Coast: €107 million from ADB to Finance 3 Agricultural Projects

[Date: 27 Feb 2017 ] Country : Costa Rica

African Development Bank (ADB) and the Ivory Coast signed February 2017 in Abidjan, 107 million (70 billion FCFA) financing agreements. This, for three agricultural projects aimed at developing the agro-industrial and banking fabric in Ivory Coast, while promoting youth employment and the involvement of women, through the intensive use of new technologies . These projects are part of the strategy of the ADB to initiate the transformation, modernization and competitiveness of African agriculture.

The agro-industrial cluster project in the region Aries (2PAI ARIES) assumes the lion`s share, with € 101 million (FCFA 66 billion) granted - via a commercial loan of € 64.36 million (42 billion FCFA) a concessional loan of € 32.9 million (FCFA 22 billion) and a grant of € 4.3 million (FCFA 2.8 billion).

The value chain development project in the region of Indénié-Djuablin (PDC-ID) received funding of € 5 million (FCFA 3.3 billion) allocated the resources of the Nigeria Trust Fund (NTF ), one of the three entities constituting the Bank Group.

Finally, ADB also granted an advance of € 1.3 million (829 million FCFA) to conduct studies prior to the implementation of youth employment project in agribusiness (Enable Youth).

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