World Bank Group Engagement in Côte d’Ivoire
A Country Strategic Partnership (CPS) was approved in 2010 by the World Bank Group (WBG) board. In 2013, a Progress Report assessed the implementation of the CPS, and proposed adjustments to the strategy in support of greater efforts to sustain peace in the country. The original four CPS pillars – (i) strengthening governance and institutions; (ii) improving the performance of the agricultural sector; (iii) private sector development; and (iv) renewing infrastructure and basic services – remain relevant and fully aligned with Côte d’Ivoire’s 2012-2015 National Development Plan. The CPS’s two cross-cutting themes – job creation for youth and women’s economic empowerment – also reflect the current government’s priorities. The Progress Report proposed an extension to the CPS until the end of 2014 to accommodate for the time lost during the 2011 crisis.
The end of the crisis opened a unique window of opportunity to promote sustainable peace in Côte d’Ivoire. The WBG responded by using existing International Development Association (IDA) operations to support recovery efforts and to frontload IDA’s 16 resources in 2012. This included the approval of a development policy operation, an emergency youth employment and skills development project, an emergency infrastructure renewal project, and a basic education project (funded under EFA-FTI). Overall progress towards CPS outcomes is assessed as positive.
The IDA-financed portfolio in Côte d’Ivoire consists of 10 active projects and commitments totaling $692 million. It has an undisbursed balance of $360.12 million, with a 54% disbursement ratio. The World Bank also supervises five trust funds representing commitments of $52.14 million. These trust funds include three State and Peace-building Fund grants.
Going forward, WBG efforts to sustain peace and stability in Côte d’Ivoire will be primarily analytical and advisory and focus on three new areas of engagement: land administration and land rights, local governance and government, and improved public expenditure in the security sector. The World Bank is launching the preparation of a Strategic Country Diagnostic, the completion of which is expected in fall 2014. A new Country Partnership Framework will also be prepared. The WBG expects to accelerate the transition of its support from emergency to emerging country status, in tandem with Côte d’Ivoire’s expectations of its own performance by the year 2020.
International Finance Corporation (IFC)
Since the end of the 2011 crisis, the IFC has expanded its support to the financial sector, the agribusiness sector, and the infrastructure sector. It has committed to providing a $125 million loan for the Azito III Power Project to increase the country’s energy capacity. The IFC will also increase its outreach in the agribusiness sector, with support to cash crops and assistance in increasing food production. The financial sector will continue to benefit from both investment and technical assistance. Support for the infrastructure sector is under consideration.
Multilateral Investment Guarantee Agency (MIGA)
With approximately $650 million in gross insurance coverage, the MIGA has supported the three following important projects: Henri Konan Bedie toll bridge, the expansion of the Azito power plant, and the development of Foxtrot and Marlin offshore oil and gas platforms. The MIGA will continue to offer its products to investors looking to enter the Ivorian market.
Last Updated: Apr 07, 2014