African Development Bank and World Bank Commit to Support Côte d’Ivoire’s Recovery

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Tunis, 14 April, 2011—The African Development Bank and the World Bank today issued the following statement in response to developments in Côte d'Ivoire:

The African Development Bank and the World Bank, Côte d'Ivoire's long-standing development partners, welcome the end of hostilities in the country following four months of crisis due to last November's presidential elections.

The Boards, Managements and staff of both institutions regret the loss of life caused by this crisis and sympathise with all those who have lost family members and other loved ones.

Peace, stability, law and order and reconciliation will be essential for a quick, sustainable economic recovery in the country. These elements provide a necessary basis for engendering good governance and inclusive growth that reflects participation of all Ivorians. As President Ouattara looks toward reconciliation, restoring peace, and stimulating economic recovery, both institutions stand ready to offer important assistance: financial, policy, and technical.

AfDB President Donald Kaberuka said: "The African Development Bank has a deep and direct understanding of the crisis in Côte d'Ivoire and its impact, given that our headquarters is located in Côte d'Ivoire. We have developed close relationships with the Ivorian people and look forward to working closely and in earnest with the authorities and people as they begin their recovery process towards a path of sustained economic growth. Our assistance will be geared towards the rehabilitation of social and economic infrastructure necessary to put the Ivorian economy back on a sound footing. We shall do so in close collaboration with other development partners."

World Bank President Robert B. Zoellick said: “We will provide prompt support, drawing practical lessons from the just released World Development Report, to help get people back to work, and to integrate improved security with advances in justice and governance. Cȏte d’Ivoire needs security, jobs, and justice. We will work closely with regional partners, such as ECOWAS and the African Union. Not only is Cȏte d’Ivoire important for the West African region, but regional cooperation will be valuable in assisting Cȏte d’Ivoire at this critical moment. We also will bring expertise to this re-engagement from our new global center on conflict and fragility in Nairobi."

The World Bank and the African Development Bank will meet to discuss immediate next steps with senior officials of Côte d'Ivoire during the Spring Meetings of the International Monetary Fund and the World Bank Group this weekend. They will also discuss how to help with other partners and supporters of the country.

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