World Bank Group Engagement in Côte d’Ivoire
In April 2008, the World Bank and the Ivorian Government implemented an Interim Strategy Note (ISN) to assist in the gradual recovery of the economy and post-conflict Ivorian institutions. A new Country Partnership Strategy (CPS), was adopted in May 2010 by the World Bank Group’s Board of Directors aimed at addressing the following issues: governance, institutional capacity building, performance of the agricultural sector, improvement of the business climate, infrastructure renovations, and employment opportunities for youth. The CPS was scheduled for completion in June 2013 but was extended to 30 June 2014.
The Country Partnership Strategy (CPS) helped support the implementation of the Ivorian government’s Poverty Reduction Strategy Paper (PRSP) and the National Development Plan (NDP) in the two years following the end of the crisis. In order to prepare the next partnership framework expected to enter the current World Bank Board of Directors in 2015, the World Bank Group’s office based in Abidjan conducted throughout September 2014 a series of preliminary consultations, meetings, and exchanges via online platforms with various stakeholder groups including: academics, civil society organizations, youth, the private sector, elected local officials, political parties, and the government.
Currently, the World Bank’s portfolio in Côte d’Ivoire is made up of 8 active projects amounting to $462 million of which $281.7 million have been disbursed. The International Development Agency’s (IDA) support for Côte d’Ivoire has doubled, reaching nearly $750 million over the next 3 years.
International Finance Corporation (IFC)
Since the end of the crisis in 2011, IFC has expanded its support to the financial sector, the agri-business sector, and the infrastructure sector. It has committed to providing a $125 million loan for the Azito III Project to increase the country’s energy capacity. Moreover, the IFC will be active in the agricultural industry, supporting cash crops and food production. The financial sector will benefit from investment and technical assistance, and support for the infrastructure sector is being considered.
Multilateral Investment Guarantee Agency (MIGA)
MIGA allocated $650 million to support three important projects: the Henri Konan Bedie toll bridge, the expansion of Azito power plant, and the development of Foxtrot and Marlin offshore oil and gas platforms. MIGA will continue to offer its products to investors seeking to enter the Ivorian market.
Last Updated: Jan 12, 2015