Country Listing

Ivory Coast Table of Contents

Ivory Coast

Foreign Assistance

As a middle-income developing country, Côte d'Ivoire found it easier to borrow from private commercial sources than from multilateral and bilateral financial institutions, which lent primarily to the poorest countries. More than two-thirds of its foreign debt was owed to commercial lending agencies. Nevertheless, the government borrowed substantial sums from Paris Club donors. From 1981 to 1984, net official development assistance from Western countries and from multilateral agencies averaged US$136.4 million per year. This figure increased in the mid-1980s as multilateral donors, particularly the World Bank, financed the various structural readjustment programs. In 1986 the World Bank financed five programs amounting to US$340.1 million, and by the end of that year it had loaned Côte d'Ivoire about US$1.8 billion in a series of forty-nine operations, including three structural adjustment loans that totaled US$600 million. Other sources of multilateral aid in 1985 were the African Development Bank (US$124.4 million), the European Development Fund (US$15.5 million), and the Entente Council (Conseil de l'Entente; US$375 million).

France was the most important bilateral aid donor. French assistance was channeled through the CCCE and the Aid and Cooperation Fund (Fond d'Aide et de Coopération--FAC). After France, Canada and West Germany were the largest donors, providing US$7.7 million and US$8.7 million, respectively, in 1985.

Data as of November 1988