"Ivory Coast needs budget support"

Before the implementation of these 10 new projects in 2019, the Bank granted to Côte d'Ivoire in 2018 a loan of 683 billion CFA francs (US $ 1.218 billion US 1 = 540 CFA francs) for 11 projects.

Pierre Laporte (World Bank): "Côte d'Ivoire needs budget support"

World Bank Director of Operations for Benin Togo, Côte d'Ivoire, Burkina Faso Faso and Guinea, Pierre Laporte announced that the World Bank has approved the disbursement of 492 billion FCFA (US $ 879 million) to finance 10 new projects in 2019. This was during a press conference on Thursday 27 July , at the regional office of the Bank based in Abidjan Cocody

Before the execution of these 10 new projects of 2019, the bank granted to Ivory Coast in 2018 a loan of 683 billion FCFA ( 1,218 billion dollars Us 1 dollar = 540 Fcfa) for 11 project s. And according to the six instruments of the group used to support the country, the disbursement rate stood at 15.4% (or 136 billion FCFA including budget support), while it was at 37% the year last. But, justifies the Director of Operations, this rate is the result of new projects that have appeared, especially given their duration. He also noted that among the 11 projects to be financed, the file of Greater Abidjan received the most colossal support of the bank with an amount of more than 170 billion CFA francs, followed by the project of the processing of the walnut. cashew (more than 108 billion CFA francs) to improve the value chain and to obtain added value.

Pierre Laporte indicated that Côte d'Ivoire has also benefited from budget support of the order of more than 68 billion FCFA (127 million US dollars 1 dollar = 540 FCFA) last month. It focused on reforms and financial and sectoral economic policies, including public finance reform, energy sector reform, education reform and agriculture reform (Cocoa). Answering a question on budget support, he said: "Côte d'Ivoire needs budget support … This country has a poverty rate of 46%."

The head of the bank in Abidjan wished that Côte d'Ivoire could achieve at least a 20% disbursement rate, which is the standard of the World Bank. However, he considers the debt ratio to be moderate (47%). And reassured about the adjustment of the electricity tariff: "There will be no adjustment in the electricity sector. For now, we are not considering an increase in the tariff. Adding that their goal in Ivory Coast is to eliminate extreme poverty.

Kamagaté Issouf

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