History of Crisis in Ivory Coast

In the months following the resolution of the post-electoral crisis, the government received significant financial support from France and Bretton Woods institutions. In June 2012, Côte d’Ivoire reached the completion point under the HIPC initiative and benefited from a total debt relief of $7.7 billion (including $4.3 billion from IMF & World Bank) . As a result, public external debt fell from 55.1% of GDP at the end of 2011 to 27.7% at the end of June 2013.

Thanks to the financial support from the international community, the government was able to launch a vast program of economic reforms and to focus its efforts on economic recovery. Under the $2.9 billion debt relief agreement signed with the French Agency for Development (AFD), the government committed to a large program of public investments to develop infrastructure, with a specific focus on transports, energy and water & sanitation (Annex A).

• Roads linking Abidjan to main cities and to neighboring countries were renovated.

- The link Abidjan-Bouake-Korhogo linking the capital to the north and to Burkina Faso.

- The road linking Abidjan to San Pedro the main port for cocoa export.

- “West African” Motorway from Abidjan to Lomé (Togo).

- Finally the bridge “Henry Konan Bedie” (230M€) whose construction has long been postponed, was inaugurated in December 2014.

In 2012, the government managed to secure $350M from the IFC and the AFD for the extension and modernization of the Azito thermal plant which supplies most of power used in Abidjan. Once the project will be fully completed by the end of 2015, the electricity supply in the country will increase by 15%.

The government also signed two long term concessions contracts with the French company Bolloré Africa Logistics to double the capacity of the port (450M€) and to rehabilitate the rail connection between Abidjan and Ouagadougou (400M€) .

The government also launched several reforms in order to improve the legal framework and the business environment for foreign investors. In June 2012, Côte d’Ivoire adopted a new investment code that offers significant incentives, including tax reductions and in some cases exemptions from value added taxes (VAT) on equipment for private investors. Under the new code, new industrial zones are planned, and investors will benefit from special tax treatment for periods ranging from 8 to 15 years. The new investment code also provides incentives to promote sectors that are key to the country’s economic development, such as low-cost housing construction, the creation of factories, and infrastructure development. In return, investors commit to technology transfer, compliance