Word Bank, IMF loan Côte d’Ivoire over €550 million for development projects

Côte d’Ivoire has secured two loans worth nearly €560 million from the World Bank and the International Monetary Fund (IMF) for the financing of two development projects.

The first credit, 282.8 million euros, concerns inclusive sustainable development project for secondary cities while the second estimated at 276.9 million euros will be used to finance the Inclusive Connectivity and Rural Infrastructure Project, cabinet spokesperson Amadou Coulibaly said.

The credit agreements were signed during the World Bank and the IMF meetings held this month.

“In addition, our country will be one of the beneficiaries of a new trade financing instrument of the Multilateral Investment Guarantee Agency (MIGA), for an amount of 100 million Euros for a maximum period of one year renewable, in order to facilitate access to fertilizers and other imported products needed in the agricultural and digital sectors”, Amadou added.

MIGA will also consider supporting the government to increase funding to the quasi-public sector, the state official indicated.