Abidjan, Côte d’Ivoire, May 17, 2013 –
IFC, a member of the World Bank Group, today signed an agreement to
work with the Government of Côte d’Ivoire to support simplified business
regulations that will improve the country’s investment climate, strengthen
its private sector, and contribute to economic growth.
Jean Philippe Prosper signed on behalf of
IFC during his first visit to Côte d’Ivoire as IFC’s regional Vice President.
Prosper met with senior government officials, including Prime Minister
and Minister of Finance, Daniel Kablan Duncan, and pledged to expand IFC’s
investments and advisory services support in the country.
Prosper, IFC Vice President for Sub-Saharan
Africa, Latin America and the Caribbean, said, “Côte d’Ivoire is one
of West Africa’s most important economies, and this new agreement will
support its strategy to introduce a simpler and more transparent business
legal and regulatory framework. IFC is committed to working with the Government
and private sector partners to support key sectors, including infrastructure,
agribusiness, and smaller businesses.”
IFC re-engaged in Côte d’Ivoire quickly
after its 2010-1011 political crisis, and has since made investments close
to $200 million in the country’s agribusiness, financial, and infrastructure
IFC’s support for the expansion of the Azito
thermal power plant to 427 MW is helping improve access to electricity
in the country.
IFC’s Advisory Services teams are helping
strengthen smaller businesses in Côte d’Ivoire with leasing and business
management training programs. IFC is working with the Government
to simplify tax, licensing and inspection regulations that often increase
the cost of business.
Côte d’Ivoire is also one of eight countries
supported by IFC’s Conflict Affected States in Africa Initiative, which
is supporting private sector growth, job creation, and increased investment
in countries recovering from conflict. CASA is backed by donor partners
Ireland, the Netherlands, and Norway.
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,