Country Overview

Less than 4 years after the post-election crisis of October 2010, Côte d’Ivoire has made substantial progress towards improving the conditions for a sustainable development. On the economic front, the country has made great leaps in development since 2011 when the GDP growth rate was in steep decline (-4.7%). Côte d'Ivoire is close to experiencing a double digit economic growth rate (10.7% in 2012, 8.7% in 2013 and 9 to 10% in 2014). In addition to stabilizing the socio-political and security situation, the country was also able to implement several reforms allowing for a sharp improvement in the business environment. Côte d’Ivoire was ranked among the 10 best reformers two years in a row (2014 and 2015) in the World Bank’s Doing Business report. Ivorian authorities are aiming to ensure that through the National Development Plan (PND) for the period 2012-2015, Côte d’Ivoire becomes an emerging country by 2020.

Political Context

Since 2013, a rich political dialogue has improved the atmosphere between the party in power and the opposition.  The provisional release of pro-Gbagbo major leaders,  the thawing of a portion of their assets, the return of many exiles, and  the reintegration of the AFD (Alliance of Democratic Forces, the opposition coalition) members within the Independent Electoral Commission (CEI),  reveals the inclusive efforts being prior to the upcoming presidential elections scheduled for October 2015. Despite an improved economic climate, Ivorians are still facing areas of instability, notably in regards to issues related to rural land, nationality, reintegration of former combatants and persons at risk, and human rights.

Economic Overview

Côte d’Ivoire is the second largest economy in West Africa and is among the largest exporters of cocoa and cashew nuts. It has great economic potential. The macroeconomic performance over the past two years is impressive, with a growth rate of around 8.7%. Inflation remains subdued at 2.5%. The macroeconomic outlook in 2014 remains positive, given the anticipation of such a high growth rate and low inflation rate. However, the strong growth in the medium term remains subject to an increase in private investments and to an adequate external financing enabling public investment to increase up to 8% of GDP, in accordance to the rate set by the National Development Plan for the 2012-2015 period. The continued strong macroeconomic performance and an acceleration of structural reforms are needed to sustain GDP growth, improve the living conditions of vulnerable populations, and facilitate the transition of the Ivorian economy to an emerging economy.

Social Context

Côte d'Ivoire has fallen behind in the achievement of most Millennium Development Goals (MDGs) and almost all indicators are flat or have deteriorated. This is mainly due to the succession of multifaceted crises that the country has experienced since the beginning of the decade. As a direct result of these crises, the level of poverty has increased from 36% in 1998 to about 48 to 50% in 2008, especially in rural areas where they are most evident. Ranked 171st out of 187 countries in the Human Development Index (HDI) report in 2014, Côte d'Ivoire has, however, undertaken significant efforts in terms of access to basic social services and job creation.

Last Updated: Jan 12, 2015

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

The end of the crisis opened a unique window of opportunity to promote sustainable peace in Côte d’Ivoire. The World Bank Group responded by using existing IDA operations to support recovery efforts as well as by frontloading IDA 2012 resources in an emergency youth employment and skills development project, an emergency infrastructure renewal project, and a basic education project (funded under EFA-FTI). Since the end of the crisis, IFC has expanded its support to the financial sector, the agri-business sector, and the infrastructure sector, providing a $125 million loan for the Azito III to increase the country’s energy capacity. MIGA has provided $650 million in insurance coverage for 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. 

Overall progress towards CPS outcomes is satisfactory. Reform efforts enabled the country to attain the Highly Indebted Poor Countries (HIPC) Completion Point and significant debt relief in June 2012. Prudent macroeconomic management has resulted in a GDP growth rate of 10.7% in 2012. Key policy and institutional changes have been introduced in the cocoa sector and investments in education have allowed for a significant increase in primary school enrollment rates and in completion rates. Sustained efforts have improved the management of public finances, and procurement reforms have also been introduced.  

Last Updated: Jan 12, 2015

In Côte d’Ivoire, the World Bank liaises closely with other technical and financial partners, including the African Development Bank (ADB), the European Union (EU), the French Development Agency (AFD), the International Monetary Fund (IMF), the United Nations system, Germany, Japan, and the United States Agency for International Development (USAID). It is a member of the management and coordination system managed by the Official Development Assistance (ODA), acting as the lead agency dealing with issues related to the private sector, after having led a working group on education.  It is also an active member of the Resources Mobilization Committee (COMOREX), under the authority of the Ivorian Prime Minister and the Minister for Economy, Finance and Budget. Its main tasks aim at helping increase performance in mobilizing resources from development partners and the use thereof.

The introduction of a computerized integrated system for the management of external resources called Aid Management Computerized Platform (PGA) was carried out together with « Development Gateway », a technical partner. This system, the final version of which has been available since July 2014, will allow the overall management of aid to be more efficient through access to decision-making tools and indicators such as maps and statistical reports by decision-makers. 

Last Updated: Jan 12, 2015


Côte d’Ivoire: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments