EBRD lends $60M to boost cashew processing in Côte d'Ivoire
What's the deal? The European Bank for Reconstruction and Development (EBRD) is lending up to $60M (€51M) to Dorado, the world's largest cashew nut processing facility, to strengthen agribusiness value chains in Côte d'Ivoire. The sustainability-linked loan will fund working capital for Dorado's subsidiaries to increase sourcing of raw cashew nuts for local processing and export.
Dorado operates one of the largest cashew processing facilities in the country and exports to Europe, the Americas, the Middle East, and Asia.
The deal also includes a technical cooperation package to certify at least 10 cooperatives — covering a minimum of 4,000 farmers — under the Rainforest Alliance Sustainable Agriculture Standard. Twenty village savings and loan associations will be established to improve rural access to finance.
Why now? Côte d'Ivoire became an EBRD country of operation in 2025, making this one of the bank's early investments there. The EBRD's focus in the country centres on sustainable infrastructure, private-sector competitiveness, and green, inclusive growth.
What could go wrong? The loan's sustainability targets — increasing the share of sustainably sourced cashews, improving traceability, and introducing a deforestation risk framework — add complexity. If Dorado falls short on these benchmarks, the terms of the sustainability-linked loan could become less favourable. Reliance on smallholder farmers and seasonal workers, the majority of whom are women, also means the supply chain is exposed to climate and labour risks.
The signal: Development finance institutions are increasingly structuring loans around measurable sustainability outcomes rather than simply deploying capital. The EBRD's bet on Côte d'Ivoire's cashew sector reflects a broader push to keep agricultural value addition in producing countries rather than exporting raw commodities. It also signals growing institutional appetite for West African agribusiness as a vehicle for both commercial returns and development impact.
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