Macroeconomic and Developmental Indicators
Sectors driving growth
Orientation of EBID interventions in Côte d’Ivoire for the period 2021-2025
- Infrastructure projects in the electricity, transport (especially roads) and telecommunications sectors ;
- Projects for access to low-cost electricity in rural areas;
- Projects to build new roads and improve the quality and coverage of the national road network;
- Projects to strengthen the financial system to fully support the real economy and the process of structural transformation;
- Projects for granting credit lines to commercial banks with a view to diversifying financial products and providing access to financing for SMEs;
- Projects for the development of human capital, in particular the creation, equipment and rehabilitation of health centres, schools and universities;
- Projects for the integration and/or creation of jobs for young people, the empowerment of women and the care and development of people living with a disability.
EBID intends to have an impact on the economy of Côte d’Ivoire by contributing to the achievement of its emergence, in a logic of job creation and more inclusive growth, with a better redistribution of the fruits of growth, especially to the disadvantaged social strata. Through its interventions in Côte d’Ivoire, EBID also intends to improve its performance.
EBID Country Strategy
The ECOWAS Bank for Investment and Development (EBID) country strategy for Côte d’Ivoire is prepared in a context where, according to the World Bank, the country is the main economic lung of Francophone West Africa. Côte d’Ivoire has one of the most dynamic economic growth rates and maintains its position as the world’s leading producer and exporter of cocoa beans and cashew nuts.
Before the global shock caused by the coronavirus pandemic, Côte d’Ivoire continued to post one of the strongest economic growth rates on the African continent and in the world, projected at 7% in 2020, with an average increase of 8% per year since 2012. Anticipating the economic impact of COVID-19, the Ivorian government now expects a forecast rate of 3.5%, due to the fall in international demand for agricultural products, particularly cocoa and cashew nuts, and the slowdown in domestic activity.
In 2019 the building and public works sector was one of the main drivers of growth, in 2020 the gradual diversification of the economy and the dynamism of the private sector should drive growth.
However, the presidential elections, scheduled for October 2020, and the health crisis linked to the coronavirus pandemic are likely to create a climate of uncertainty and have a negative impact on private investment.
Drawing lessons from the implementation of the 2012-2015 National Development Plan (NDP), Côte d’Ivoire has set itself the ambition of becoming an emerging country by 2020 with a solid industrial base, poverty reduction and better redistribution of the fruits of growth, especially to disadvantaged social strata.
The NDP 2016-2020, drawn up for this purpose, is structured around five (05) strategic axes: (i) strengthening the quality of institutions and governance, (ii) accelerating the development of human capital and social welfare, (iii) accelerating the structural transformation of the economy through industrialisation, (iv) developing infrastructure harmoniously distributed over the national territory and preserving the environment, and (V) strengthening regional integration and international cooperation.
The operationalisation of the NDP 2016-2020 by breaking down the strategic axes into sectoral measures and actions, translated into policies, programmes and projects should boost the country’s economic and social development.
It emerges from the financing strategy for the NDP that, over the period 2021-2035, an average of 65% of resources are expected to be mobilised on the domestic market, compared with 35% outside the country. The flow of new financing (CFAF 30,000 billion, including CFAF 11,284 billion for the public sector) required to implement the NDP should be sought in a context of limited supply of concessional financing. Thus, the government plans to turn more towards non-concessional loans.
The Bank will hold dialogues on its financing offers with the Government of Côte d’Ivoire and other partners with a view to participating in the implementation of selected priority projects in its country strategy.