Ivory Coast in Talks With StanChart, SocGen on €800 Million Loan
Ivory Coast, the world’s top cocoa producer, is raising funding as it gears up for elections in October.
Photographer: Paul Ninson/BloombergIvory Coast plans to raise €800 million ($916 million) in syndicated loans arranged by Standard Chartered Plc and Société Générale SA to help fund its budget, according to people familiar with the matter.
The amount is being equally split between the two lenders, said the people, who asked not to be identified because the information isn’t public. The Multilateral Investment Guarantee Agency, a unit of the World Bank, will guarantee part of the loan, as will the African Development Bank, the people said.