Washington, United States
April 30, 2024
The International Monetary Fund (IMF) had announced on Friday February 16 that it had reached an agreement with the Ivorian government for a $1.3 billion loan to help the country prepare for its energy transition and combat the effects of global warming.
The loan is made under the Resilience and Sustainability Fund (RSF), which enables the IMF to provide longer-term loans with deferred repayment, enabling beneficiary countries to finance the investments needed to adapt to the effects of global warming and prepare for their transition.
This loan is in addition to the program already underway, worth a total of $3.5 billion.
“Côte d’ivoire and its economy are exposed to climate change , especially the agricultural sector and economic activities in coastal areas.(…) The authorities are committed to reducing the adverse effects of climate change and have implemented several initiatives. Olaf Unteroberdoerster, head of mission in the country, said in the statement.
Côte d’Ivoire, which has posted robust growth for over a decade – 7% is projected for 2024 – is seen as one of the most dynamic countries in West Africa. However, it remains dependent on external aid, in particular from the IMF, which announced on April 08 that it had approved the disbursement of a new tranche of financing, amounting to 574 million dollars, following the finalization of the first on-site progress reports.
Côte d’Ivoire, which has enjoyed robust growth for over ten years – 7% is projected for 2024 – is seen as one of the most dynamic countries in West Africa. However, it remains dependent on external aid, in particular from the IMF, which announced on April 08 that it had approved the disbursement of a new tranche of financing, amounting to 574 million dollars, following the finalization of the first on-site progress reports.
The country has launched a number of investment programs, notably in the key cocoa sector, in order to build up a processing industry, which until now has mainly been carried out outside the country, despite the fact that it is the world’s leading producer.
It also aims to improve its agricultural production in order to increase exports to other African markets.
Humaniterre with AFP
