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 nearly 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%).

Economic Overview

The Ivorian economy gradually recovered in 2021, despite the shocks of the global Covid-19 pandemic. Côte d’Ivoire grew at a rate of 7% in 2021, well above the 2019 rate of 6.2%. However, inflation averaged 4.2%, its highest level in 10 years, compared to 0.8% in 2019 and 2.4% in 2020, largely as a result of higher food prices. In addition, the Ivorian economy could experience slower growth and accelerated inflation owing to the effects of the conflict in Ukraine. Côte d’Ivoire remains, however, 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 wealth creation 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 the end of tensions related to the October 2020 presidential election, which was won by the incumbent, President Alassane Ouattara.  The country is preparing for municipal and regional elections scheduled for 2023. Two litmus test elections for the main political parties, including the 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 ex-Laurent Gbagbo, will be conducted prior to the 2025 presidential election.  

Last Updated: Oct 21, 2022

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

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 47,435 women with cash transfers;
• 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 Educational Service Delivery Improvement 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 people, 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;
• Nearly a dozen 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: Oct 21, 2022

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: Oct 21, 2022