Public Management

Côte d’Ivoire seeks US$1.1 bln for reforestation program

Côte d’Ivoire seeks US$1.1 bln for reforestation program
Tuesday, 10 May 2022 20:02

Within just 100 years, Côte d'Ivoire lost nearly 82% of its forest cover. From 16 million hectares in 1900, the country had only 2.9 million hectares in 2021. During the ongoing COP15, President  Alassane Ouattara announced a program to increase the cover to 5.9 million hectares by 2030. 

Côte d’Ivoire currently seeks US$1.1 billion to fund its reforestation program. The information was disclosed in an official release issued Monday, May 9. 

According to the release, Ivorian authorities hope to restore 3 million hectares of forests by 2030 thanks to "The Abidjan Legacy Program".

"The initiative promotes agroforestry and appeals to the private sector for the restoration of forest cover,” indicated President Alassane Ouattara. 

Sixty percent (60%) of the Côte d’Ivoire’s national territory is hit by drought and desertification. According to authorities, the rate is 90% in its northern regions. The situation negatively affects agriculture and agribusiness, causing migration and inter-community conflicts, the release explains citing the President of the Republic.

At least two institutions have already pledged support to the program.  The African Development Bank (AfDB) announced a US$500 million support while the Food and Agriculture Organization of the United Nations (FAO) will commit about US$20 million.

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Letshego Africa Holdings, a Botswana-based financial services group listed on the Botswana Stock Exchange, signed agreements with Axian Digital...
First RMBS listing on BRVM backed by NSIA Banque Côte d’Ivoire CFA10 billion securitization aims to expand housing finance Move seeks to deepen...
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Strategy follows mining corridors and regional trade flows Expansion backed by record profits and pan-African growth plans Kenya's Equity...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
03

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
04

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
05

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.