During the 2017-18 fiscal year, World Bank approved 11 projects in various sectors for a total amount of $1.218 billion (about CFA683 billion) to Côte d’Ivoire, Pierre Laporte,(photo) the Bank’s operations manager for the country said July 26.

Speaking during a press conference, hel stressed that “this is the first time World Bank committed an amount exceeding $1 billion to Côte d’Ivoire”  however, the disbursement rate in 2018 is only 15.4%, down from 37% the previous fiscal year. It is also below the 20% set to be achieved by the country. Net amount captured (budget support included) is $243.59 million, thus close to CFA136 billion. The budget support was $125 million.

Laporte said the low rate is justifiable as the 11 new projects’ current implementation stage does not require significant disbursements. Targeted sectors include agriculture, transport, energy, environment, health, water, forestry, etc.

For the next budget year, the manager said, 10 new projects are planned to be approved for a total of about $879 million (CFA492 billion).