Washington, 23 October 2021 (TDI): The President of World Bank Group, David Malpass, met with Prime Minister of Côte d’Ivoire, Patrick Achi. The meeting was on 20 October. Achi and Malpass discussed the progress of Côte d’Ivoire; against Covid-19.
Then both discussed further efforts to accelerate vaccine deployment in the region. Also, both reviewed the cocoa sector strategy. Then the need to improve the productivity in the sector. Malpass highlighted the need for further action to address several challenges. Those are poverty, environmental, and social issues, related to the cocoa industry.
Malpass welcomed Côte d’Ivoire’s ambition to reach universal electricity access by 2025. Malpass also remarked on the necessity to build step by step, electricity regional markets. Achi and Malpass then discussed the leadership of Côte d’Ivoire in the 20 International Development Association.
Malpass and Achi also included in the discussion, the successful Abidjan Summit, economic diversification. Both discussed also the need for land reforms, to improve access to financiation, human capital investment; and the importance of peace, and stability in the Sahel region.
Côte d’Ivoire economic situation
Côte d’Ivoire remains to be Francophone West Africa’s economic hub, after the pandemics. The country also exerts significant influence in the region. Before the Covid-19, Côte d’Ivoire had one of the stronger economies, both in Africa; and also around the world.
The country had grown at an average rate of 8% since 2012. The main challenge is to implement an agenda of sustainable development. That agenda includes the promotion of the private sector, to create jobs. It also includes the improvement of the business environment; to build capacity in the agricultural sector.
IDA20 is a replenishment process of the International Development Organization, launched by the World Bank. It is a fund for the world’s poorest countries, aiming to support them, in their recovery from the COVID-19. It also aims to support them in their transition to green, inclusive development. IDA20 will have a policy, and financial packages for 74 countries, and will conclude in December 2021. This financial support will help those countries between July 2022, and June 2025.