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 plans 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.
World Bank Group engagement in Côte d’Ivoire is guided by a Country Partnership Framework (CPF), which is aligned with the priorities set forth in the country’s National Development Plan. The 2016-2020 CPF was extended through the end of FY21 and focused on three priorities:
- Initiating private sector-led growth;
- Building the human capital essential for economic development and social cohesion;
- Strengthening public finance management, transparency, and institutional accountability.
Following a mid-term review of the CPF to assess its progress, the World Bank refocused its priorities on the development of human capital and social inclusion. The new partnership framework (CPF 2022-2026) under preparation aims to support the pillars of the NDP 2021-2025.
Portfolio: The World Bank’s current active portfolio is $4.46 billion across 30 active projects, including 24 national projects totaling $4 billion and 6 regional IDA projects in the amount of $461.4 million. The portfolio is evenly distributed across all sectors, with the largest investments in transport (15%), urban development and land (13%), health (12%), and social protection (12%). A Country Climate and Development Report (CCDR) is expected to be completed in FY23.
International Finance Corporation (IFC)
In Côte d’Ivoire, IFC supports private sector actors investing in the strategic sectors of the national economy. Our action is guided by a country strategy that was developed in 2019 and is in line with the World Bank Group’s Country Partnership Framework. This strategy is based on three pillars:
- Financing of sustainable infrastructure;
- Access to finance, especially for SMEs;
- Development of agribusiness and agricultural value chains.
Over the past five years, IFC has invested approximately $950 million in these strategic sectors. IFC’s new strategy in Côte d’Ivoire is based on a new approach called “IFC 3.0.” This approach is integrated into the Ivorian government’s vision, which is embedded in the new NDP 2021-2025 and aims to make the private sector the engine of strong and inclusive growth. It reflects the fact that to increase impact and scale up its work in strategic sectors in Côte d’Ivoire, IFC should no longer simply respond to demand. It must now adopt a 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, or agricultural cooperatives.
IFC pays particular attention to the agribusiness sector, the real lung of the Ivorian economy. IFC provides loan or equity investments in local or foreign companies operating in key, job-creating value chains such as poultry farming or cotton. In addition to investment activities, IFC has 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 generally producer groups or cooperatives.
Multilateral Investment Guarantee Agency (MIGA)
MIGA has three active projects in Côte d’Ivoire’s oil and gas and infrastructure sectors. This makes 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: Oct 21, 2022