The Export-Import Bank of the United States (US Exim) has approved cover for a financing package that will support the digitalisation of Côte d’Ivoire’s ministry of commerce and industry.
Under the deal, the US export credit agency (ECA) is providing a US$47mn guarantee to back financing from Citi.
Côte d’Ivoire’s government will use the funding to digitalise the ministry’s operations and will procure goods and services from US suppliers.
The project is being undertaken by US technology firm Cybastion Institute of Technology in conjunction with prospective suppliers, including Cisco, Amazon Web Services, Motorola Solutions and Microsoft.
US Exim is committing support through its China and Transformational Export Programme, which aims to “level the financial playing field” in 10 key sectors, helping US firms compete with rivals in the People’s Republic of China (PRC).
“Supporting the digitisation of Côte d’Ivoire’s [ministry] reinforces US Exim’s commitment to countering the rise of PRC influence,” says the agency’s acting president and chair James Cruse.
“By approving today’s transaction, we are supporting around 100 jobs and countering the PRC by fortifying and securing our supply chains.”
