The World Bank in Côte d’Ivoire

Côte d’Ivoire, the world’s leading cocoa and cashew producer, is experiencing one of the fastest sustained economic growth rates in Sub-Saharan Africa in over a decade. With real GDP growth averaging 8.2% between 2012 and 2019, Côte d’Ivoire successfully contained the COVID-19 pandemic and maintained a positive growth rate in 2020 (2%). In 2021, the country returned to its high-growth trajectory and continues to play a central role as a regional economic hub and host country for many nationals from the Economic Community of West African States (ECOWAS) and elsewhere.

Economic Overview

In 2022, in the context of the global crisis, the Ivorian economy recorded real GDP growth estimated at 6.7%, down from 7% in 2021. Growth was driven by private consumption, supported by public investment and wage increases in the civil service. Inflation averaged 5.2% in 2022, its highest level in a decade, as a result of rising food, transport and energy prices. However, medium-term projections are optimistic, provided structural reforms targeting macroeconomic stability are stepped up. Despite the existing challenges, Côte d’Ivoire nevertheless remains on a positive economic trajectory that will need to be strengthened to accelerate the structural transformation of its economy as envisaged in the new 2030 strategy. To do this, the country should increase investments in new areas that offer significant potential for the creation of wealth and quality jobs. These areas would make it possible to include and to generate dividends for women and the most disadvantaged groups in society, including those living in the most remote rural areas.

Political Context

Côte d’Ivoire has enjoyed political and social stability since inclusive legislative elections were held in 2021. The various actors have committed to a national reconciliation process after the conclusion of a political dialogue between the government, the political parties and civil society. The country is preparing for municipal and regional elections scheduled for October 2023. Two litmus test elections for the main political parties, including the ruling Rally for Houphouetists for Democracy and Peace (RHDP), the Democratic Party of Côte d’Ivoire (PDCI-RDA) of former president Henri Konan Bédié, and the African People’s Party-Côte d’Ivoire (PPA-CI) founded by former president Laurent Gbagbo, will be conducted prior to the 2025 presidential election.

Last Updated: Mar 17, 2023

World Bank Group Engagement in Côte d’Ivoire

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 Group 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:

1.      Improve human capital to help Côte d’Ivoire achieve tangible results and strengthen the social contract between the State and citizens;

2.      Reduce regional disparities and promote resilience through the construction of sustainable infrastructure and rational management of natural resources;

3.      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.

Portfolio: The World Bank’s total current portfolio amounts to $5.48 billion distributed among 33 projects and programs under implementation. 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. Support in the area of basic education aims 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. Action is guided by the World Bank’s Country Strategy and CPF. This strategy revolves around the financing of sustainable infrastructure, access to financing, especially for SMEs, and the development of agricultural and agribusiness value chains.

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. IFC must adopt a more proactive approach—leveraging the strengths of the entire World Bank Group and other development partners—to create markets and mobilize private sector resources on a larger scale.

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: Mar 17, 2023

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

SOCIAL PROTECTION

The Productive Social Safety Nets Project, which aims to provide direct cash transfers to the poorest households, has made it possible to:

• support the start-up and scale-up of the largest productive cash transfer program in the West Africa region: 125,000 households have received quarterly cash transfers for three years and benefited from economic inclusion measures. All regions of the country are covered.
• train 50,000 poor households on techniques for developing income-generating activities;
• provide cash transfers to 47,435 women;
• establish the Single Social Register at the institutional level;
• survey more than 800,000 poor households whose socioeconomic data will serve as a starting point for the development of the Single Social Register.

EDUCATION

The Education Service Delivery Enhancement Project (PAPSE), also known as the “My Child Learns Better in School” project:

• enabled 63,398 children in CP1, CP2 and CE1 classes, including 31,887 girls, to improve their reading, writing and math skills;
• improved early childhood development by supporting 13,996 children, including 6,974 girls;
• encouraged the enrolment of 8,595 female students through the distribution of complementary school kits;
• strengthened the pedagogical capacities of 769 reading-writing teachers and 1,033 mathematics teachers. 

ACCESS TO DRINKING WATER

PREMU: Under the Urban Water Supply and Sanitation Project:

• 489,840 persons, 48.9% of whom are women, have access to improved water services in six urban centers from the north to the south of the country;
• About 10 water treatment plants and reservoirs were constructed;
• The project also enabled the laying of 214 km of water transmission and distribution pipes in all the targeted cities and identified 25,896 households requesting subsidized connections and reactivation;
• 7,511 meters were installed in vulnerable households;
• 981 jobs were created.

COVID-19

The National COVID-19 Response Plan Support Project achieved the following:

• The acquisition and gradual deployment of (i) 3.5 million doses of J&J vaccines as well as consumables (syringes and safety box) via the AVAT mechanism. To date, (ii) 1,978,800 doses of Sinopharm vaccines have been delivered via the COVAX mechanism;
• The purchase of cold chain equipment for the regional depots of the Expanded Program on Immunization and health districts;
• The operationalization of 12 mobile units for the intensification of vaccination activities in Abidjan;
• The acquisition of emergency kits for the management of cases of Adverse Effects Following Immunization (AEFI);
• The acceleration of social mobilization and vaccine acceptance:  after four weeks, Côte d’Ivoire increased the number of people vaccinated each day from 2,000 to over 20,000, and then to 52,000.

Last Updated: Mar 17, 2023

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 also works with the Agence française de développement (AFD) in the areas of agriculture, transport, education, and youth employment. We also work in partnership with WHO, GIZ, UNICEF, KFW, and many other donors, to carry out investment programs in health, environmental protection, private sector development, etc.

Last Updated: Mar 17, 2023