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Côte d’Ivoire and Canada sign a $42 mln MoU for development projects

Saturday, 29 April 2023 05:17
Côte d’Ivoire and Canada sign a $42 mln MoU for development projects

(Ecofin Agency) - In line with its 2021-2025 National Development Plan, Côte d’Ivoire has signed several cooperation agreements with Canada to implement development projects, improve the well-being of its population and stimulate sustainable and inclusive growth. 

Côte d’Ivoire and Canada recently signed a CFAF25 billion memorandum of understanding for development projects. The agreement was announced by the Ivorian government on Wednesday, April 26.  

The memorandum of understanding is mainly aimed at strengthening the friendly relationship between the two countries and creating a framework for structured dialogue between the ministries in charge of development in both countries. It is accompanied by nine project protocols that are structured around four priority areas, namely: health, inclusive growth, education, and governance.

In line with Côte d’Ivoire’s 2021-2025 national development plan, the projects aim to support the government in the improvement of the population’s living conditions and the continuation of development efforts. 

 "This agreement is the tangible demonstration of Canada's commitment to complementing the efforts of the Ivorian government through the formulation and implementation of development projects," said Ms. Kaba Nialé, Minister of Planning and Development.

Côte d’Ivoire is one of the most dynamic economies in Africa. It has shown resilience to the recent economic shocks that hit it and recorded a 7% growth in 2021, compared to 2% in 2020. Despite the lingering effects of these shocks, Abidjan remains on a positive economic trajectory. According to the World Bank, the country should make more investments in new sectors likely to create wealth and jobs and be beneficial for women and the most vulnerable segments of its population, living in the most remote rural areas.

During the Consultative Group to Assist the Poor in mid-June 2022, in Abidjan, Canada committed to contributing CFAF60 billion ($100 million) over 2021-2025 to support the efforts of the Ivorian government.  

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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