Côte d’Ivoire: SIR funding

Société Générale and the World Bank’s International Finance Corporation have co-arranged a $300m structured trade facility for Société Ivoirienne de Raffinage (SIR), to help finance oil imports for the Abidjan refinery. IFC and Société Générale will each participate with up to $100m in the facility, while BNP Paribas and Standard Chartered Bank will also take part. The facility will finance around $2bn of oil imports over the next two years for SIR, which supplies refined petroleum products for Côte d’Ivoire as well as Burkina Faso, Mali, and other countries in western Africa.