Kreditanstalt für Wiederaufbau (KfW), the German development agency, grants close to €6 million to Ivory Coast to encourage investment in renewable energy through the African Trade Insurance Agency (ACA).
The government of Ivory Coast is now relying on renewable energy to provide electricity to its population. As part of its policy, the country wants to attract investment in renewable energies. The Kreditanstalt für Wiederaufbau (KfW) is supporting the country in this regard. The German development agency has just signed deal with the government of Ivory Coast for the allocation of close to 6 million euros.
The funds will be used to raise the West African country’s share in the capital of the African Trade Insurance Agency (ATI/ACA). It is a multilateral organisation that supports trade and investment in Africa and lessens transaction costs by providing exporters, importers and investors with easier availability to credit insurance, political risk insurance, insolvency cover and foreign direct investment protection. Supported by the World Bank, the African Trade Insurance Agency will assist Ivory Coast in its energy policy.