World Bank approves $120m loan for Cote d’Ivoire

…As Malian economy experiences exceptional growth

The World Bank has approved a $120 million loan to Cote d’Ivoire to finance the Urban Infrastructural Development
and Secondary Cities Competitiveness Project (PIDUCAS), MPs from the Member State have revealed.

The project is expected to contribute towards the establishment of a more conducive environment for the development of local businesses and making the target cities more attractive to investors and workers.

The Ivorian delegation to Parliament disclosed this in the Country Report it presented to the 2nd Ordinary Session of
the Parliament, where it noted that these interventions, combined with direct support to the SMEs are essential for
fostering investment growth and for medium and long term job creation.

According to the MPs, the beneficiaries of the project would be mainly state organizations and the Bouake and San
Pedro Municipalities.

“Beside the public sector, the project will also benefit the private sector because individuals, businesses and cooperatives will also benefit from the entrepreneurship support programme in the two towns and their environs; particularly women who are very active in small trading and production activities”, the Report stated.

In a related development, the Malian economy is said to have experienced exceptional growth of 7.0 percent in
2014, a development the MPs attributed to a rebound in growth in the primary and secondary sectors.

Presenting the Country Report of Mali, leader of the delegation, Hon. Yaya Sangare disclosed that due to favourable
rainfall and the implementation of the agricultural input subsidy Policy, output in the primary sector increased by 9.3
percent following a particularly strong rebound in the agri-food and textile sectors.

He explained that despite a slight slow-down in 2015 due to the contraction of activity in the secondary sector, economic growth remained robust adding that inflation remained very modest over the 2014-2016 periods, mainly due to the good performance of agricultural campaigns and the low level of petroleum products prices.

The Country Report was consequently adopted after a robust debate by Plenary.

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