IFC, FMO, and OPEC Fund come together for 250M€ to support Sucden’s cocoa procurement and export of 100% traceable cocoa beans in Ivory Coast
The IFC, as a leader, joined by FMO and OPEC Fund closed a 250 million euro syndicated term loan to Sucden Côte d’Ivoire and Sucden SA for cocoa procurement and export in Ivory Coast. The loan will be a 1-year maturity, renewable annually, for up to 4 years in aggregate, and will be split into 120M EUR by IFC, 80M EUR by FMO, and 50M EUR by OPEC fund. The project aims to improve livelihoods for smallholder farmers and promote sustainable, traceable cocoa aligned with EU deforestation rules.
The project is expected to enhance the cocoa sector’s competitiveness, promote sustainability, and improve farmers’ livelihoods while addressing social and environmental risks.