World Bank to fund Ivory Coast projects


The World Bank will activate development projects worth US$100 million in Ivory Coast over the next two weeks if security conditions permit after months of violence, said the bank’s president.

World Bank chief Robert Zoellick told a news conference the institution would fund the projects to restore water services, clear towns of litter, and ensure schools and clinics are able to function.

The development lender suspended projects in Ivory Coast in December after Laurent Gbagbo, who ruled the country for 10 years, refused to hand over power to President Alassane Ouattara, who was internationally recognized as the winner of last November’s presidential poll, Reuters reports.

Zoellick first suggested on Monday the bank was ready to reengage with Ivory Coast after French forces helped to arrest Gbagbo. Read more on
“Working with regional partners, the World Bank stands ready to offer important assistance — financial, policy and technical,” he told reporters before the start of IMF and World Bank meetings in Washington.

The World Bank and International Monetary Fund said they would meet Ivorian Finance Minister Charles Koffi Diby during the weekend meeting of global finance chiefs.