UPDATE 1-IDB arm to lead manage 300 bln CFA franc sukuk programme for Ivory Coast

April 23, 2015 1:12 PM

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DUBAI, April 23 (Reuters) - The Islamic Corporation for the Development of the Private Sector (ICD), an arm of the Jeddah-based Islamic Development Bank, said it would lead manage a 300 billion CFA franc ($480 million) Islamic bond programme for Ivory Coast.

The programme would issue Ivory Coast's first sovereign sukuk in order to finance development projects. It will be conducted in two equal phases of 150 billion CFA francs and extend from 2015 to 2020, the ICD said in a statement on Thursday.

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