REPORT ON COOPERATION FOR DEVELOPMENT (RCD) 2023 – IVORY COAST

The mobilization of resources from development partners in 2023 took place in a particularly challenging international context, marked by both a slowdown in economic growth (3.3% compared to 3.6% in 2022) and alarming environmental records. However, unlike in 2022, when the inflation rate was relatively high, the inflation rate for 2023 is 6.7%. In sub-Saharan African countries, economic conditions have deteriorated, with growth at 3.6% in 2023, down from 4.1% in 2022, and inflation at 17.6% in 2023, compared to 15.2% in 2022. In 2023, the Ivorian economy maintained a robust growth rate of 6.5%, despite exogenous shocks (inflation at 4.4%, the Ukrainian crisis, climate change). This momentum is supported by sustained mobilization of external financing, which is essential for the implementation of the National Development Plan (PND) 2021-2025. 

Mobilization of External Financing

 In 2023, Ivory Coast mobilized 3,920 billion CFA francs in external financing, a decrease of 7.1% compared to 2022, which amounted to 4,221.4 billion CFA francs. These funds come from three main sources: (i) Multilateral (62.3%): World Bank (61.5%), African Development Bank, IMF; (ii) Bilateral (19.7%): France (302.2 billion CFA francs), Germany, Japan; and (iii) Financial markets and commercial banks (18%): Commerzbank, Bank of China, Cargill. Budget support saw a significant increase (1,139.5 billion CFA francs, +29.1%) compared to 702.8 billion CFA francs in 2022, reflecting increased confidence from financial partners in the country's macroeconomic stability. 

Utilization of Financing and Disbursements 

The mobilized funds have been directed towards the priority sectors of the PND 2021-2025, namely: (i) Infrastructure and transport: 28.8%; (ii) Sanitation and water: 15%; (iii) Health and nutrition: 14.8%; and (iv) Education and employment: 10.3%. The volume of disbursements increased by 16.1%, reaching 3,276.8 billion CFA francs, resulting in a more efficient disbursement rate than in previous years. Since 2021, the cumulative external financing achieved is 8,135.8 billion CFA francs, covering 53.1% of the needs of the PND 2021-2025.