The government of Côte d’Ivoire has begun the implementation of its new National Development Plan (NDP 2021–2025). Through this NDP, which will mobilize CFAF 59,000 billion (about $100 billion), the government intends to accelerate the structural transformation of the economy and access by the population to such services as education, drinking water, electricity, health care, social protection, and employment. It also intends to continue the development of the private sector, breathing new life into this sector in order to transform it into a real driver of the Ivorian economy.
To further support efforts to end poverty and promote shared prosperity in the country, in February the World Bank presented a new Country Partnership Framework (CPF) 2023–2027 with Côte d’Ivoire that focuses on improving human capital, reducing disparities and building resilience and creating private sector jobs. This engagement, which involved consultations with the private sector, the authorities, civil society and the other development partners, aims to support a more inclusive and sustainable economic and social transformation, as articulated in the government’s Vision 2030 and the 2021–2025 National Development Plan.
The New Partnership Framework with Côte d’Ivoire focuses on three priority areas:
- Improve human capital to help Côte d’Ivoire achieve tangible results and strengthen the social contract between the State and citizens;
- Reduce regional disparities and promote resilience through the construction of sustainable infrastructure and rational management of natural resources;
- Promote private investment to create better jobs through the private sector.
This new CPF demonstrates the World Bank’s commitment to supporting the continued implementation of the reforms and programs that will bridge the human capital gap, strengthen natural resource management and the country’s capacity to cope with the effects of climate change, and encourage the competitive development of employment-generating agricultural and manufacturing sectors. The objective of this strategy is to reduce the number of poor and vulnerable persons, build the capacity of communities to respond to risks, including security risks, and strengthen the social contract between the State and the population.
This new CPF is also in line with the World Bank Group Strategy for Western and Central Africa and restores trust between citizens and the State in order to create a new social contract, remove bottlenecks that prevent businesses from creating more and better jobs, strengthen human capital and empower women so that all boys and girls can reach their full potential, and build climate resilience to help countries adapt to and mitigate climate shocks by strengthening the resilience of cities and rural areas.
The World Bank’s total current portfolio amounts to $6.2 billion distributed among 34 projects and programs under implementation. It is spread across all sectors, with the biggest investments in Education and Health (29%), Sustainable Development (28%) and Infrastructure (27%).
With the new CPF, the World Bank’s support aims to help the government provide access to electricity for 80% of households by 2026. It also seeks to increase tenfold the number of persons who have a land title or secure property ownership rights. Within the area of basic education, the aim is to increase the proportion of third year students who pass the reading proficiency test from 18.9% in 2020 to 43% in 2025.
International Finance Corporation (IFC)
In Côte d’Ivoire, IFC supports private sector actors investing in the strategic sectors of the national economy. In 2023, IFC plans to invest $660 million in the key sectors of the Ivorian economy, including the financial, manufacturing and agrifood sectors.
IFC’s new strategy in Côte d’Ivoire is based on a new approach that is called “IFC 3.0” and is aligned with the Ivorian government’s vision and the new NDP 2021–2025, which is to make the private sector the engine of strong and inclusive growth.
In the area of access to finance, IFC has a range of diversified financial products that meet the needs of financial institutions operating in Côte d’Ivoire. IFC can invest directly in capital and implement dedicated financing lines or guarantee products. In addition to these investment products, IFC has advisory services to enable financial institutions to better serve priority targets such as small and medium enterprises, women entrepreneurs and agricultural cooperatives.
IFC provides loan or equity investments in local or foreign companies operating in key, job- creating value chains such as poultry farming or cotton. IFC has also forged partnerships with major players (e.g., Olam, Cargill, OCP) in value chains such as cocoa, cotton and cashew to co-develop specific programs aimed at boosting financing of the weak links in these value chains, which are mainly producer groups or cooperatives.
IFC is committed to supporting the development of the Ivorian private sector, particularly SMEs, women-owned businesses and national champions, and to promoting a better business climate to foster a more inclusive, diversified and resilient economy.
Multilateral Investment Guarantee Agency (MIGA)
MIGA has three active projects in Côte d’Ivoire’s oil and gas and infrastructure sectors. These operations, which are worth a total of $531 million, make Côte d’Ivoire one of MIGA’s highest-exposure countries, guaranteeing coverage of risks of transfer restriction and currency inconvertibility, expropriation, breach of contract, 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: Sep 29, 2023