AFD, EU to finance CGECI’s renewable energy and energy efficiency projects

COTE D’IVOIRE – French Development Agency (AFD) and the European Union (EU) has signed a financial agreement with the General Confederation of Businesses in Ivory Coast (CGECI) to offer technical assistance for US$1.97 million renewable energy and energy efficiency projects for Ivorian companies.

French Development Agency (AFD) plans to support Ivorian companies in their projects to acquire renewable energy and energy efficiency systems. The bank will participate in financing their green projects through the Sunref program. AFD’s green financing label aims to work with (local) banks for green growth in low-income countries.

The funds are earmarked for technical assistance for the green projects of Ivorian companies.

“This is why the Ivorian employers have chosen to engage in the implementation of energy efficiency and renewable energy projects for the benefit of the private sector.”

Jean-Marie Ackah – President, CGECI

“The technical assistance program, financed by the European Union, aims to support private investment promoters and carry out awareness-raising and training actions for the various potential investor groups and the rest of the Ivorian ecosystem,” indicated AFD.

Within the framework of its Sunref program, the French financial institution will work with local banks, particularly Société Générale Ivory Coast (SGCI) and the New Inter-African Insurance Company (NSIA).

“CGECI member companies and Ivorian companies in general have a real need for support to make their energy transition a success. This is why the Ivorian employers have chosen to engage in the implementation of energy efficiency and renewable energy projects for the benefit of the private sector,” said Jean-Marie Ackah, president of the CGECI.

AFD’s program has also been offered to Namibian companies via a mechanism set up with the Namibian subsidiary of Nedbank. This is a green line of credit that enables the financing of renewable energy projects for Namibian companies, energy efficiency, agro-ecology and sustainable tourism.

In September last year, The General Confederation of Enterprises of Côte d’Ivoire (CGECI) and the GIZ launched the second awareness and information campaign for businesses and industries in Bouaké on energy efficiency and renewable energy.

The initiative aimed to boost the competitiveness of Ivorian companies, while reducing their carbon footprint.

Low-energy and low-carbon industrial development is being popularized in Ivory Coast. This is the purpose of the awareness and information campaign for businesses and industries on energy efficiency and renewable energy.

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