African Development Bank Backs €833mn Côte d’Ivoire Refinery Upgrade with €200mn Loan

The African Development Bank (AfDB) has approved a €200 million loan to support Côte d’Ivoire’s flagship “Clean Air” project, a major refinery upgrade aimed at producing ultra-low-sulfur diesel and strengthening the country’s role as a regional energy hub.

The financing, approved by the Bank’s Board on 13 July, will fund the construction of a diesel hydrodesulfurisation (HDS) complex at the Société Ivoirienne de Raffinage (SIR), the country’s state-owned refinery. The facility will enable SIR to manufacture cleaner fuels that comply with international environmental standards, reducing sulfur emissions while improving fuel quality across West Africa.

The refinery expansion forms part of a broader €833 million investment programme to be financed by a consortium of development finance institutions and partners. Acting as mandated lead arranger, the AfDB will coordinate financing and mobilise additional capital for the project, with commissioning targeted for 2029.

The investment comes as governments across Africa tighten fuel-quality regulations to curb urban air pollution and align with global climate objectives. By upgrading refining capacity rather than relying on imported cleaner fuels, Côte d’Ivoire aims to preserve the competitiveness of one of West Africa’s largest operating refineries while enhancing regional supply resilience.

The project is expected to reinforce fuel security not only for Côte d’Ivoire but also for neighbouring landlocked economies, including Mali and Burkina Faso, which depend significantly on petroleum products refined at SIR.

Kevin Kariuki, AfDB Vice-President for Power, Energy, Climate and Green Growth, said the initiative combines industrial modernisation with climate action by enabling cleaner fuel production, improving air quality, enhancing vehicle engine efficiency and supporting the long-term competitiveness of the regional fuel industry.

Beyond environmental benefits, the project is expected to deliver a sizeable economic impact. Construction of the new HDS complex will create approximately 1,140 temporary jobs, while operations will add 82 permanent positions and safeguard roughly 900 existing jobs. Around 50 employees will also undergo specialised technical training to operate the refinery’s next-generation processing technologies.

The financing aligns with the African Development Bank’s 2024–2033 Ten-Year Strategy, particularly its objective of mobilising large-scale investment for climate-resilient infrastructure while accelerating industrialisation across the continent.

For Côte d’Ivoire, the project represents another step toward strengthening domestic industrial capacity, improving environmental performance and consolidating its position as one of West Africa’s leading refining and petroleum export centres.