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AfDB to support economic growth in Côte d'Ivoire

African Development Bank will support the creation of agricultural value chains in Côte dIvoire, to create more jobs and make economic growth more inclusive, revealed AfDBs president, Dr Akinwumi A. Adesina at a recent meeting with Ivorian Prime Minister Patrick Achi

Since 2015, the African Development Bank has quadrupled its investments in Côte d'Ivoire, bringing its portfolio to US$2.7bn.

"The African Development Bank will support the Ivorian government in the creation of agricultural value chains in banana, mango, palm oil, cashew, coffee and cocoa products ... There will be investments to transform rural areas into areas of wealth for the people," said Adesina.

The African Development Bank president added that it was important to make Côte d'Ivoire's economic growth more inclusive by putting more emphasis on job-creation, and ensuring the transformation of rural areas. The African Development Bank will support the government's 2021-2025 National Development Plan. 

President Adesina commended the Ivorian government's efforts in fighting Covid-19, which had also helped to revive the country's economy.

"Côte d'Ivoire was in an exceptional trajectory with an average growth rate of 7% from 2016 to 2019. Unfortunately, because of Covid-19, growth has dropped to 2% in 2020. But with the economic recovery and vaccinations helping, the tourism, services, transport and manufacturing industries are recovering. We expect the Ivorian economy to rebound by 6.2% this year and 6.5% in 2022," Adesina said.

Prime Minister Achi welcomed the African Development Bank’s continuing support, and expressed the Ivorian government’s deep appreciation for its assistance, as a strategic partner.

The Ivorian minister of finance, Adama Coulibaly; minister of lanning, Nialé Kaba, and minister of agriculture, Kobena Kouassi Adjoumani, attended the session, along with African Development Bank's director general for West Africa, Marie-Laure Akin-Olugbadé and her deputy, Joseph Manuel Riberio.