• Côte d’Ivoire, EU sign 67 billion CFA francs financing agreements

• Funds target Bouaké mobility and northern region development

• Projects aim to boost growth, stability under national development plan

Côte d'Ivoire and the European Union signed two financing agreements on Monday worth a combined 67 billion CFA francs ($118 million).

The agreements were signed by Finance Minister Adama Coulibaly and Myriam Ferran, deputy director-general for international partnerships at the European Commission.

According to the Finance Ministry, the funding covers two major development projects. The first aims to improve urban mobility in Bouaké through transport infrastructure, sanitation and overall living conditions, under the EU's "Global Gateway" strategy.

The second project focuses on the integrated development of northern Côte d'Ivoire, with support for public services and socioeconomic initiatives designed to strengthen the region’s resilience to security threats.

The funding aligns with the priorities of the National Development Plan (PND) and is intended to support sustainable, inclusive growth and the country's socioeconomic stability, according to Ivorian authorities.

"Côte d'Ivoire will do everything to guarantee concrete and measurable results," Coulibaly said, calling for increased investment, particularly in the private sector and the digital economy.

The country’s third-largest economic hub after Abidjan and San Pedro, Bouaké is seeking to diversify its funding sources through its "Bouaké Nouveau" programme. In January 2025, the city received a long-term BBB and short-term A3 financial rating with a stable outlook from Bloomfield Investment Corporation, placing it in the moderate-risk investment category.

In recent years, northern Côte d'Ivoire has seen several government initiatives aimed at reducing regional disparities in health, education and agriculture through the PND. In parallel, road projects and strategic corridors, including the Abidjan-Ouagadougou axis, are helping open up the region, boost trade and strengthen its integration into the national economy.

The agreements are part of the "Team Europe" approach, which brings together several European partners, including the Agence française de développement and the European Investment Bank.

Charlène N’dimon