(Ecofin Agency) - Côte d’Ivoire will issue CFA35 billion bonds on the regional financial market, a statement from the Dakar-based regional debt planning agency Umoa-Titres revealed.

The operation which is set to commence today Feb. 20, will enable the State to mobilize resources needed to finance its 2018 budget which exceeds CFA6,700 billion. Moreover, the bond issued will be repaid in 3 years, that is starting from Jan 24, 2021, with 5.70% interest rate.

Let’s recall however that in 2017, Côte d'Ivoire had already mobilized CFA1348.8 billion which is against the CFA1296 billion targeted initially.

This year, the country plans to mobilize CFA1310 billion to finance major projects below the State budget.

Moutiou Adjibi Nourou (intern)