IFC Supports Côte d’Ivoire Electricity for All Program’s Second Social Bond to Bring Electricity to Millions More People

Abidjan, Côte d’Ivoire, November 28, 2025 — To boost access to electricity for low-income households and small businesses in Côte d’Ivoire, IFC today announced its support for a bond issuance that will help finance up to 600,000 new electricity connections, benefiting nearly 2.8 million people in the country, an almost 10 percent increase in national electricity access.

IFC’s guarantees, totaling up to XOF15.8 billion (US$28.3 million equivalent), will support the participation of Société Ivoirienne de Banque (SIB) and the Emerging Africa and Asia Infrastructure Fund (EAAIF) as anchor investors in the bond, issued by a securitization vehicle to support the financing of the Electricity for All Program (PEPT).

IFC’s catalytic role—covering 30 percent of the total issuance—helped enhance the risk profile of the structure and bolster investor confidence. Joining IFC, the African Development Bank (AfDB), and Norfund, the Norwegian investment fund for developing countries, are participating with nearly US$80 million in equivalent funding, complemented by a diverse pool of local institutional investors.

PEPT is a government-led program facilitating access to electricity for underserved populations in Côte d’Ivoire.

The issuance, structured in three tranches with tenors of 7, 10, and 15 years, is managed by Africa Link Capital Titrisation. Proceeds from the bond are expected to total up to XOF60 billion (US$107.2 million equivalent).

The transaction builds on the success of the first PEPT social bond issuance supported by IFC and further deepens local capital markets in the West African Economic and Monetary Union (WAEMU).

“PEPT’s innovative financing model continues to be a game changer for reaching universal electricity access in Côte d’Ivoire,” said Zahalo Silué, Chairman of the PEPT Fund. “IFC’s support for this second bond underscores the vital role capital markets play in advancing inclusive development and improving lives.”

“IFC is pleased to once again support the financing of Côte d’Ivoire’s Electricity for All Program,” said Josiane Kwenda, IFC Country Manager for Côte d’Ivoire. “Our renewed participation in PEPT’s innovative financing model demonstrates IFC’s commitment to helping the Government achieve its ambitious goal of universal energy access by 2030. It also reflects a strong collaboration among development finance institutions and domestic investors. By deepening local capital markets together, we are not only mobilizing private investment for essential infrastructure but also laying the foundation for sustainable development and improved livelihoods for millions of Ivorians.”

The PEPT Program, launched in 2014, enables low-income households to connect to the grid for a minimal upfront payment, with the balance repaid over time. Since inception, PEPT has enabled more than 2 million household connections, with 63 percent in rural areas.

This new bond issuance also supports the Mission 300 initiative, a joint World Bank Group and AfDB project that aims to connect 300 million more Africans to electricity by 2030. Mission 300 demonstrates how strategic partnerships between development finance institutions and local capital markets can mobilize private financing for inclusive and sustainable infrastructure in Africa. Since the launch of Mission 300, the World Bank Group has helped connect 30 millions Africans to electricity.