Abidjan, Côte d’Ivoire, May 13, 2025 – To support green, modern, mixed-use construction in Côte d’Ivoire, IFC and Proparco today announced a partnership with Groupe Duval that will help address the strong demand for quality office space, retail space, and serviced apartments in Abidjan, supporting job creation and the country’s hospitality and business tourism sectors.
Following the construction of the EDGE-certified mixed-use Inzovu Mall in Rwanda, this is the second time that IFC and Proparco are supporting Groupe Duval. Under the partnership, IFC and Proparco will jointly loan Groupe Duval up to EUR 32.6 million (EUR 16.3 million each, about $17.6 million equivalent) to support the construction of Village Notre Père, a modern shopping, office, and living space across about 21,000 square meters in Abidjan’s Plateau business district.
IFC will also assist Duval to achieve EDGE green building certification and build its capacity on environmental and social performance, including by helping it develop more gender-inclusive human resources policies.
An estimated 30 percent of the project’s area will be rented by Odalys City, a serviced apartment hotel brand of the Groupe Duval, reaffirming the group’s interest in growing its hospitality business in Africa.
"Proparco is pleased with the dynamic partnership with Groupe Duval. We are proud to support the real estate project 'Village Notre Père,' which will undoubtedly strengthen the offer of modern and sustainable infrastructure in the Plateau area and enhance Abidjan’s international influence," said Françoise Lombard, Proparco Chief Executive Officer.
Ethiopis Tafara, IFC Vice President for Africa, said, "This investment highlights IFC's dedication to advancing Côte d’Ivoire’s urbanization goals, sustainability and gender issues by implementing EDGE green building certification and creating human resources policies that are inclusive of gender considerations.”
As of March 2025, IFC had an active investment portfolio of $780 million in Côte d’Ivoire, focusing on housing, agricultural value chains, infrastructure (including digital), capital market development, health, creative industries, and access to finance for SMEs.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet. For more information, visit www.ifc.org.
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About Proparco
Proparco, a subsidiary of the Agence Française de Développement group, has been working alongside private-sector players for over 45 years to help build a fairer, more sustainable world. With an international network of 23 local offices, Proparco works closely with its partners to build sustainable solutions to environmental and social challenges in Africa, the Middle East, Asia and Latin America. Proparco has sector-specific expertise, a diversified range of financial tools adapted to the different stages of a company's development, notably through its subsidiary Digital Africa, and a technical support offer, Propulse, to leverage the impact and performance of its partners. With its new 2023-2027 strategy "Acting together for greater impact", Proparco is exploring, strengthening and amplifying its modes of intervention with its partners.
To find out more: https://www.proparco.fr/fr/strategie
Stay Connected: http://www.proparco.fr | @Proparco | LinkedIn
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