Côte d'Ivoire: African Development Bank to help mobilize over CFAF 15 billion to finance pay-as-you-go solar home systems

In very remote rural areas of some African countries, access to electricity for low-income people is still through traditional and outdated systems such as battery-powered flashlights or oil lamps that pollute and are extremely harmful to health.
In response to this urgent need, the Board of Directors of the African Development Bank has approved a proposal to help Zola EDF Côte d'Ivoire (ZECI), to mobilize a loan in local currency to the tune of CFAF 15.75 billion (approximately € 24 million) arranged by Société Générale de Banque in Côte d'Ivoire (SGBCI) and Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB). The African Development Bank will provide a partial credit guarantee covering part of the guaranteed loan facility as a catalyst.

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