Ivory Coast gets CFA 125bn boost for reconstruction
The World Bank has said it’s giving big support towards Ivory Coast’s reconstruction process.
It has already given Ivorian authorities a financial package of about 125 billion CFA Francs.
Ivory Coast is gradually recovering from last year's post elections violence and months of bloody battles, which led to the deaths of over 3,000 people and wounding of hundreds of others.
This financial assistance to the country is mainly in the social sector, the reconstruction of the basic sanitation infrastructures and the employment of women and young people.
“The past year has been hectic. After the post electoral crisis, the bank has quickly restated its commitment during the month of May to re-launch its portfolio, which was suspended during the crisis. We immediately allocated a financial package of 125 billion CFA Francs, which has helped to repair the damaged infrastructures and investments in few other sectors,” said Madani Tall, the World Bank’s Country Officer in the Ivory Coast.
Tall said the bank later submitted a 75 billion CFA Francs budgetary allocation plan and 25 Billion CFA Francs employment project for the youths in the Ivory Coast to its board of directors.
“Now, we have started discussions with the authorities about the future programs namely the budgetary allocations. It is through these budgetary allocations that we are initiating a dialogue on reforms in good governance, and in the management of the main sectors of the economy such as the coffee/cocoa sector as well as the oil sector,” the World Bank official added.
He also said the bank would also assist the Ivorian government to rekindle activities in the private sector.
The assistance to the government he said would be in two key sectors, the rebirth of the infrastructures in Ivory Coast and modernization of the agriculture industry.