The International Finance Corporation (IFC) has signed an agreement with Senegalese cement manufacturer Sococim for the decarbonization of the industrial sector in Senegal. The partnership aims to boost the low-carbon production of cement, thereby reducing emissions across the hard-to-abate industry. The IFC has arranged a $256 million financing package for Sococim, comprising a $122.4 million loan from the IFC’s personal account as well as $129.6 million in loans from Société Générale Sénégal; CBAO Groupe Attijariwafa Bank; Banque Internationale Pour Le Commerce et I’Industrie du Sénégal and Ecobank.
