The World Bank and its subsidiaries will invest $3 billion in Cote d’Ivoire by 2020 to support a scheme focused on economic development which was drawn out by authorities, Pierre Laporte, Head of World Bank’s operations in Abidjan, said on February 1^st.

“Our concessional window planned for about $800 million. The International Finance Corporation (IFC) will provide $1.7 billion while MIGA (Multilateral Investment Guarantee Agency), whose Vice-President is expected in Abidjan in the next days, pledged $850 million worth of guarantees,” Mr. Laporte told a press conference held in Abidjan.

“We have progressed a lot regarding our commitments. In fact, as I’m talking to you now, more than 8 of our projects are either at the identification or at the preparation stage. These relate to important sectors such as rural energy, drinking water, transport and agriculture,” he added highlighting that investments from World Bank should help finance the National Plan for Development (PND in French) 2016-2020 that plans for the injection of $49.24 billion worth of global investment over five years.

The head of World Bank’s operations in Cote d’Ivoire who entered office in 2015 also said talks were ongoing with Ivorian government regarding the organization of a meeting of funders to mobilize additional resources for the financing of PND.

Adopted last December by the Ivorian government, PND plans for 62.4% and 37.6% of massive investments which are to be carried out by 2020 to be respectively financed by the public and private sectors. This development plan which is part of Cote d’Ivoire’s “Cote d’Ivoire 2040” vision that aims to make the country an emerging nation by 2020 is based on five major points: developing human capital, both in terms of “demographic transition” and “demographic dividend” ; proceeding to the structural transformation of economy and generating jobs; improving regional integration and international cooperation.