The World Bank in Côte d’Ivoire

Côte d’Ivoire has enjoyed vibrant, robust, and stable economic growth since 2012, but experienced a slowdown in 2020 owing to the COVID-19 crisis. The country nonetheless remains Francophone West Africa’s economic hub and exerts significant influence in the region.

Côte d’Ivoire’s score on the World Bank’s human capital index (0.38) improved slightly in 2020 relative to 2019. Poverty fell sharply from 46.3% in 2015 to 39.4% in 2020, but this decline was confined to urban areas as rural poverty levels rose by 2.4% over the same period. The country should include its most vulnerable population groups in its economic recovery strategy, further integrate women into the economy, and develop its human capital to better meet the needs of the labor market.

Political Context

Legislative elections held in early March 2021 were won by the ruling RHDP party. The elections were deemed to be broadly inclusive, with the participation of the country’s main political parties, including the PDCI of former president Henri Konan Bédié and the coalition supporting Laurent Gbagbo, both of which boycotted the presidential elections held in October 2020. Official reports indicate that 87 persons died in violent clashes that marred the reelection of Alassane Ouattara for a third consecutive term in 2020.

President Ouattara appointed Patrick Achi prime minister in March 2021 to replace Hamed Bakayoko who had passed away earlier in the month. Achi has been tasked with continuing the political dialogue for national reconciliation, particularly with the parties of former presidents Henri Konan Bédié and Laurent Gbagbo.

Following the decision of the Appeals Chamber of the International Criminal Court (ICC) to confirm the acquittal of Laurent Gbagbo who had been prosecuted by the ICC for eight years for crimes against humanity and war crimes committed during the 2010-2011 post-electoral crisis, Gbagbo announced his intention to return to Côte d’Ivoire and participate in the country’s political life.

Economic Situation

Prior to the global shock triggered by the pandemic, Côte d’Ivoire had one of the most robust economies in Africa and in the world and had grown at an annual average rate of 8% since 2012. However, the global health situation adversely affected Ivorian households and businesses and slowed the growth rate to 1.8% in 2020. Robust domestic demand and stable exports are expected to drive the country’s economic recovery in 2021.

• While the construction sector and public investments were the main drivers of growth in 2019, the manufacturing sector, services, and exports are expected to support the economic turnaround in 2021.
• The main challenge remains the implementation of a reform agenda that fosters a sustainable economic recovery and more inclusive growth by promoting the private sector in order to create better jobs, improve the business environment, provide access to financing for SMEs and VSEs, build capacity in the agricultural sector, and develop human capital, among other things.

Last Updated: May 03, 2021

World Bank Group Engagement in Côte d’Ivoire

In late 2020, the government launched a national development program (PND 2021-2025) aimed at accelerating the pace of economic structural transformation, enhancing inclusive development, promoting human capital development, and moving toward more effective and participatory governance.  

World Bank Group engagement in Côte d’Ivoire is determined by a Country Partnership Framework (CPF). The 2016-2020 CPF was extended through the end of FY21 and focuses on three priorities:

• Promoting private sector-led growth;
• Building the human capital essential for economic development and social cohesion;
• Strengthening public finance management, transparency, and institutional accountability.

The World Bank Group is currently financing 29 active projects valued at a total of $3.5 billion and has been particularly active over the past 12 months in the following areas:  

• The implementation and financing of the emergency health care response and the national COVID-19 response plan;
• Support with Côte d’Ivoire’s post-COVID-19 economic recovery plan;
• Anti-deforestation and sustainable cocoa production, and the development of  competitiveness in the cashew industry (cashew nuts) as well as of the digital economy, urban mobility, and infrastructure;
• Strengthening of the education and health sectors, as well as support for child development and nutrition.

A mid-term review of the CPF was conducted to assess its progress. Following this assessment, the World Bank recentered its priorities around the development of human capital and social inclusion. The new CPF must be aligned with the National Development Plan (2021-2025).

COVID-19 pandemic response: The World Bank will provide $100 million to finance a project for the acquisition of millions of vaccine doses for the most vulnerable population groups. On February 16, 2021, it provided $300 million in budget support to combat the pandemic, supplementing the $75 million in financing made available in 2020 to help Côte d’Ivoire tackle the COVID-19 pandemic. On April 16, 2021, the World Bank provided $100 million in additional financing to facilitate the acquisition of new COVID-19 vaccines and boost the national vaccination campaign in order to curb the spread of the coronavirus in Côte d’Ivoire.

International Finance Corporation (IFC)

Between 2010 and 2019, the International Finance Corporation (IFC), the World Bank Group institution focused on private sector development, invested more than $1 billion in own-account resources and third-party funds to boost the generation capacity of two power plants (AZITO and CIPREL).  IFC had supported the construction of these facilities.

It has also invested in banks and financial institutions. In addition, IFC has promoted several reforms that propelled Côte d’Ivoire into the ranks of the top 10 performers globally in the Doing Business report.

Multilateral Investment Guarantee Agency (MIGA)

MIGA has three active projects in Côte d’Ivoire with a total exposure of $659.4 million in oil and gas and infrastructure activities. This makes Cote d’Ivoire one of MIGA’s highest-exposure countries, guaranteeing coverage of risks of transfer restriction and currency inconvertibility, expropriation, breach of contract, and war and civil disturbance. MIGA’s exposure is in support of the CI-27 gas field expansion, the Henry Konan Bédié Bridge in Marcory, and an upgrade of the Azito thermal power plant.

MIGA is also working on potential projects, including a hospital PPP, a wastewater treatment plant, and a biomass IPP project. In addition, the government has asked MIGA to explore support for the health and roads sectors.

Last Updated: May 03, 2021

Progress made with World Bank Group-funded projects is outlined below:

AGRICULTURE

The West Africa Agricultural Productivity Program has:

• directly benefited 800,000 Ivorian farmers (49% of whom are women), who have been able to increase their yields and improve their standard of living using the agricultural processing equipment provided by the project;
• facilitated the development of 247,692 hectares of improved crop varieties of rice, plantain, maize, yam, and sorghum;
• brought about a 22% increase in the household income of farmers targeted by the project.

EMPLOYMENT AND SOCIAL COHESION

The Youth Employment and Skills Development Project (PEJEDEC) has provided the first professional opportunity to 27,500 unskilled young people.

The Post-Conflict Assistance Project (PAPC) has focused on promoting the social and economic reintegration of communities and individuals affected by the conflicts linked to the 2011 post-electoral crisis. The project, which has benefited more than 760,000 persons, has:

• facilitated the establishment or reopening of 119 civil registry offices and training of 320 civil registry employees;
• facilitated the social reintegration of close to 39,000 at-risk youth (35% of whom are girls);
• assisted 210 cooperatives; 
• instituted 210 projects intended to strengthen social cohesion.

Last Updated: May 03, 2021

Since 2011, the World Bank Group has been working closely with the International Monetary Fund (IMF) and the European Union (EU) on the design and implementation of their support for Côte d’Ivoire.

The World Bank Group is also working with the Agence française de développement (AFD) and other key donors on the implementation of agricultural investment programs and youth employment programs.

Last Updated: May 03, 2021