The Board of Directors of the African Development Bank Group granted a loan of EUR 30.5 million to Côte d'Ivoire to implement the first phase of an economic growth programme through increasing competitiveness of the private sector.

The overall aim of the Economic Governance and Growth Support Programme is to support the government in strengthening financial governance through implementation of its National Development Plan 2021-2025 aimed at accelerating economic growth.

"Specifically, this operation aims to support the structural transformation of Côte d'Ivoire's economy through better tax revenue mobilization and inclusive governance of the public finances. It also provides support for sustainable development and lower carbon emissions in the transport and energy sectors," commented Joseph Ribeiro, Deputy Director General of the African Development Bank for West Africa and head of the Country Office for Côte d'Ivoire.

Among other things, the programme supports the adoption and implementation of the Medium-Term Revenue Mobilization Strategy (SMRT), rationalizing exemptions in the Investment Code and effective implementation of electronic billing, to improve tax revenue collection. The programme also supports the adoption of the bill on the national debt policy and medium-term debt management strategy for better control of the country's debt.

Furthermore, it supports better governance in the transport sector through classification and registration of the road network and a transfer of powers to local authorities in terms of road maintenance.

In the energy sector, the programme supports improved governance and an acceleration of the energy transition through the implementation of the Electricity Code, conducting energy audits in the public sector, and adopting legislation on the Bioenergy Code.

On 31 October 2024, the African Development Bank Group's active portfolio in Côte d'Ivoire comprised 39 operations, with its total commitments valued at USD 3.05 billion.