Ashurst advised the lenders, consisting of Banque Internationale pour l'Industrie et le Commerce (BIIC),BGFIBank, Banque Ouest Africaine de Développement (BOAD), and CBAO Bénin, in connection with a limited recourse financing to support a project developed by Société des Textiles du Bénin (a subsidiary of Arise IIP and the Caisse des Dépôts et de Consignation du Bénin (CDCB)).
This project involves the construction and operation of an integrated textile plant for the transformation of cotton fibre into knitted products, located in the Glo-Djigbé Industrial Zone in Benin. The project is part of the many industrial and production units that will be established within the Glo-Djigbé Industrial Zone.
According to Mark Barges, partner in Ashurst's Projects and Energy Transition group in Paris, "this project, located in the Glo-Djigbé Industrial Zone, is part of Benin's ambitious industrialization plan and will contribute to the development of its economic activity."
The Ashurst team was led by Mark Barges (partner) and Cédric Gamambaye Dionmou (senior associate), and included Alix Damecour (senior associate) and Zoé Delelis (associate) in Projects and Energy Transition.
Ashurst, recognized for its expertise in international financings, regularly advises sponsors, lenders, multilateral institutions, development finance institutions, and export credit agencies on complex international structured financings.
