On March 8, 2025, on the occasion of International Women’s Day, Côte d’Ivoire makes a major announcement in inclusive financing. In particular, by launching the first Gender Bond in the West African Economic and Monetary Union (WAEMU). This initiative aims to promote gender equality and finance projects that support women in various sectors, including education, health, and entrepreneurship.

Context and Objectives of the Gender Bond

The Gender Bond is an innovative financial instrument that raises funds specifically for projects that have a positive impact on gender equality. In Côte d’Ivoire, this launch is part of a broader desire to promote women’s empowerment in order to reduce gender inequalities. According to the 2023 report of the United Nations Development Programme (UNDP), women in Côte d’Ivoire represent approximately 51% of the population. However, they continue to face significant obstacles in accessing education, health and economic opportunities.

The main objective of this Gender Bond is to raise 100 million USD on the bond market to finance projects that promote gender equality. The funds will be used to support various initiatives.

• Girls’ Education: Improve access to education for girls, particularly in rural areas.
• Reproductive Health: Finance reproductive health and women’s health awareness programs.
• Women’s Entrepreneurship: Support women entrepreneurs through microcredit and training.

Gender Bond Key Figures

Côte d’Ivoire has just launched its first Gender Bond, worth 10 billion FCFA (16.5 million USD) over a period of five years. This investment offers an attractive interest rate of 6.5% per year, with a two-year deferred capital repayment period.

Named « Ellever Gender Bond 6.5% 2024-2029 », this bond issue is organized and managed by EDC Investissement Corporation (EIC), the Management and Intermediation Company (SGI) affiliated with the Ecobank Group. This is the second bond issue by Ecobank Côte d’Ivoire, following an initial fundraising in 2013. This Gender Bond, which complies with international sustainable finance standards, has obtained an independent assessment from Morningstar Sustainalytics, confirming its adherence to best practices in responsible investment.

Paul-Harry Aithnard, CEO of Ecobank Côte d’Ivoire, says that women’s financial inclusion is a major economic imperative « This Gender Bond is a concrete response to the challenges faced by women entrepreneurs in West Africa. Women-led businesses are recognized for their resilience and performance, but they remain underfunded. With this issuance, we are committed to providing them with the resources they need to grow and thrive ».

Economic and Social Implications

The launch of the Gender Bond in Côte d’Ivoire has profound implications on several fronts.

• Strengthening the Economy: By investing in education and female entrepreneurship, Côte d’Ivoire could see a significant increase in productivity. According to a McKinsey study, reducing gender inequality could add up to 12 billion USD to Côte d’Ivoire’s GDP by 2025.
• Improving Health: Investing in girls’ reproductive health and education can lead to improved health indicators, including reduced maternal and infant mortality. In 2022, the maternal mortality rate in Côte d’Ivoire was 614 deaths per 100,000 live births, a figure that could be reduced through targeted programs.
• Social Impact: The Gender Bond could also help change cultural perceptions around the role of women in society. By supporting projects that highlight women’s achievements, Côte d’Ivoire can encourage greater acceptance of gender equality.

Gender Bond: The Foundations for Greater Economic Inclusion

The launch of the first Gender Bond in UEMOA opens the way to several perspectives.

• Model for the Region: Côte d’Ivoire could serve as a model for other countries in UEMOA and West Africa. Other nations could follow suit by launching their own Gender Bonds, which could create a ripple effect for inclusive financing in the region.
• Public-Private Partnerships: The success of the Gender Bond will also depend on collaboration between the public and private sectors. Businesses can play a key role in supporting initiatives that promote gender equality, while benefiting from a positive brand image.
• Monitoring and Evaluation: It will be crucial to put in place monitoring and evaluation mechanisms to measure the impact of projects financed by the Gender Bond. This will allow strategies to be adjusted based on results and ensure transparency in the use of funds.

Collaborating to maximize the impact of this Gender Bond

The launch of the first Gender Bond in UEMOA by Côte d’Ivoire represents a significant step forward towards gender equality and inclusive financing. By raising funds to support projects focused on women, Côte d’Ivoire is demonstrating its commitment to improving the lives of women in the country.

Key figures highlight the importance of this initiative, both economically and socially. As the world watches this development, it is essential that stakeholders collaborate to maximize the impact of this Gender Bond and ensure a better future for all women in Côte d’Ivoire and beyond.