Guarantee Platform Delivers First Joint IBRD-MIGA Guarantee for Côte d’Ivoire’s Sustainability-Linked Financing
WASHINGTON, September 2, 2025 – In a landmark transaction, the World Bank Group Guarantee Platform, housed at the Multilateral Investment Guarantee Agency (MIGA), has enabled the first-ever combination of an IBRD Policy-Based Guarantee (PBG) and a MIGA guarantee. The 15-year guarantees will support Côte d’Ivoire’s €433.3 million (approximately $505 million) inaugural Sustainability Linked Loan (SLL) from Standard Chartered Bank to the Ministry of Finance and Budget.
The €372.9 million MIGA guarantee, serving as a second-loss layer, covers the non-honoring of a sovereign financial obligation. This structure complements the €260 million IBRD PBG, which provides first-loss coverage. By providing layered risk protection through a single, integrated solution, this innovative approach reflects the Platform’s strategic objectives of enhancing efficiency, simplicity, and speed for clients. The terms achieved through this structure enable the government of Côte d’Ivoire to finance investments in climate resilience and adaptation while preserving public debt sustainability.
The SLL was issued under Côte d’Ivoire’s first Sustainability-Linked Finance Framework, enabling access to financing on more favorable terms by linking financial conditions to clear Sustainability Performance Targets in renewable energy (excluding hydropower), deforestation prevention, and reforestation. The framework supports the country’s goal to cut GHG emissions by over 30 percent by 2030 and is expected to boost resilience to climate impacts on agriculture.
“This transaction marks a significant milestone for the World Bank Group Guarantee Platform and demonstrates the power of integrated solutions,” said Hiroshi Matano, MIGA Executive Vice President. “By combining IBRD and MIGA guarantees for the first time, we are helping Côte d’Ivoire secure financing on better terms, accelerate its climate commitments, and build resilience in critical sectors. The partnership reflects our shared dedication to innovation, sustainable development, and climate action across Africa.”
“This transaction is a testament to our steadfast commitment to our overarching financing strategy, which prioritizes diversification, innovation, and debt sustainability,” said Adama Coulibaly, Minister of Finance and Budget for the Republic of Côte d’Ivoire. “The favorable terms secured will enable us to access cost-effective, long-term financing essential for advancing our national climate resilience agenda. Through this pioneering initiative, we reaffirm our commitment to the Sustainable Development Goals.”
The World Bank approved two PBGs for Côte d’Ivoire in December 2024. The first was deployed in early 2025 to support the country’s first debt-for-development-swap, while the second is supporting the SLL. Together, these transactions reflect the World Bank Group’s integrated approach to expanding access to sustainable financing on better terms.
This joint IBRD-MIGA guarantee builds on the momentum from the Climate Finance Roundtable co-hosted in July 2024 by the government of Côte d’Ivoire, the World Bank Group, and the International Monetary Fund. At that event, public and private sector leaders in the country called for innovative, scalable solutions to help unlock resources for climate and development priorities. This transaction delivers on that vision by demonstrating how the Guarantee Platform enables layered risk solutions that drive faster, more impactful outcomes.
“We are proud to support the Republic of Côte d’Ivoire with this landmark, first-of-its-kind Sustainability-Linked Loan as sole lender,” said Sujithav Sarangi, Executive Director, Development & Agency Finance, Standard Chartered. “As a result of close collaboration with the country’s Ministry of Finance and the World Bank Group, this innovative structure aligns financing with clear, measurable objectives under the country’s new Sustainability-Linked Financing Framework. It showcases how collaborative innovation can help mobilize capital efficiently and support credible models for sovereign sustainable finance.”
“This transaction unlocks new opportunities for Côte d’Ivoire to advance its climate and development goals,” said Marie-Chantal Uwanyiligira, World Bank Division Director for Cote d’Ivoire, Benin, Togo, and Guinea. “By linking financing to clear sustainability targets, we are helping the country access private capital on better terms, strengthen its financial resilience, and accelerate progress toward a more sustainable future.”
Developed with technical assistance and expertise from the World Bank Group, Côte d’Ivoire’s Sustainability-Linked Finance Framework sets a foundation for diversifying sustainable financing instruments and expanding access to private capital. By linking financing conditions to measurable sustainability targets, the framework improves transparency and strengthens incentives for climate action.
Under this transaction, the World Bank Group Guarantee Platform’s coverage enhances loan financing by lowering borrowing costs, extending repayment grace periods, and providing regulatory benefits to participating banks. This layered approach improves borrowing terms, reduces funding costs, and offers governments greater flexibility to advance their sustainable development priorities.
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About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
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Contact:
In Washington: Elizabeth Howton, (202) 458-5922 or ehowton@worldbankgroup.org