An amount of CFAF 118.7 billion to support reforms aimed, on the one hand, at promoting investments in cocoa, agro-forestry, renewable energies and energy efficiency in strict respect of the environment, and on the other hand, accelerating the mobilization of domestic resources and strengthening the effectiveness of social programs in favor of the poorest populations. This is the objective of the loan agreement signed on Friday, April 3, between the Ivorian government and the World Bank, through its IDA (International Development Association) window providing budget support.

According to the Ivorian Minister of Economy and Finance, representing the government, Adama Coulibaly, this support is the culmination of the satisfactory implementation of reforms carried out in several key sectors of the national economy. For the World Bank's Country Director for Côte d'Ivoire, Benin, Togo, and Guinea, Coralie Gevers, the reforms initiated by the government and supported by the World Bank will contribute to the establishment of a cocoa traceability system, from the producer to the buyer. "In response to consumer demands around the world, this system will ensure that this production is not the result of child labour and complies with Côte d'Ivoire's new forest standards. Such a system should encourage more private and sustainable investment in the cocoa sector and lead cooperatives and smallholder farmers to get a better price for their beans," she continues.

According to the bank, this loan agreement encourages the setting of standards for sustainable cocoa production, facilitates the integration of solar energy into the electricity grid, encourages new investments in green energy, and, among other things, improves the targeting of social safety net programs by registering poor families in the social registry.

Like the rest of the world, Côte d'Ivoire is hit by the Covid-19 pandemic which will impact the standard of living of many households. This crisis highlights the need for a broad system of social safety nets to support the most vulnerable. "The adoption and development of a social registry is an important first step in establishing such a national system," adds Coralie Gevers. The Government and the World Bank have worked closely with other technical and financial partners in the preparation of these reforms, particularly in the field of energy with the German Ministry of Cooperation, the Bundesministerium für internationale Zusammenarbeit (BMZ), the Kreditanstalt für Wiederaufbau (KfW) and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GiZ). In December 2019, the German authorities approved €60 million in parallel financing and technical assistance to support the implementation of certain energy measures.