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AFD/Cote d’Ivoire

Published on April 14, 2011
Joint statement by Alain Juppé, Ministre d’Etat, Minister of Foreign and European Affairs, and Henri de Raincourt, Minister responsible for Cooperation
Paris, April 14, 2011

Following the release by the French Development Agency (AFD) Board of Governors of aid worth €400 million – approved by France – to Côte d’Ivoire, Alain Juppé, Ministre d’Etat, Minister of Foreign and European Affairs, and Henri de Raincourt, Minister attached to the Ministre d’Etat, responsible for Cooperation, reaffirm France’s resolute commitment alongside the Ivorian people.

France is the first bilateral donor to provide financial support for the reconstruction of Côte d’Ivoire, following the request made by the President of Côte d’Ivoire, Alassane Ouattara.

In order to deal with the humanitarian emergency and allow Côte d’Ivoire to swiftly begin her economic and social recovery, the Ministre d’Etat, Alain Juppé, and the Minister responsible for Cooperation, Henri de Raincourt, invite their international partners to similarly affirm their commitment alongside Côte d’Ivoire, as the European Union has just done.

On the sidelines of the Spring Assembly in Washington (14 to 17 April), France will actively argue with the international financial institutions for resolute action to provide Côte d’Ivoire with the liquidity she needs.
The AFD therefore decided to approve a loan to the Ivorian State amounting to €350 million. This loan will be implemented in the form of budgetary aid.

This budgetary aid could notably allow the funding of priority budgetary expenditure, in particular the payment of civil servants and funding of emergency social expenditure.

With respect to the accumulated arrears owed by Côte d’Ivoire to the World Bank and African Development Bank (AfDB), the French loan will be combined with the provision of a bridging loan of €50 million to repay the arrears owed to financial institutions before the disbursement of their initial support.

This sovereign loan allocated to Côte d’Ivoire will have a maturity of nine years and be recorded as Official Development Assistance./.

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