The project to develop the food sector and create thousands of jobs in rural areas in Ivory Coast was approved by the World Bank on Tuesday 8 June. The World Bank and the International Development Association (IDA) are supporting and financing the project with a sum of 250 million dollars, or 134.7 billion CFA francs. This project is called the Food Value Chain Development Project or PDC2V.

Job creation

According to the World Bank's press release, on the one hand, the project aims to remove all the main obstacles to the growth of the agri-food sector. Thus, it also aims to stimulate more inclusive, resilient and competitive food value chains.

On the other hand, it will allow the PDC2V to support nearly 600,000 small farmers, the majority of whom will be women, as well as 150 SMEs and at least 400 microenterprises involved in the production, marketing, and processing of agro-food products.

Opportunity

This project will present a great opportunity for private partnerships between actors in targeted value chains such as cassava, horticulture and aquaculture. It will also promote investments to improve and modernise the weaker segments of the sector. 

According to Coralie Gevers, World Bank Country Director for Ivory Coast, Guinea and Togo, the World Bank is financing this project to support the efforts of the Ivorian authorities. The aim is to address the main challenges by increasing investment in agricultural research, marketing and agro-industrial processing in order to build a competitive and inclusive agro-industrial sector.

The International Finance Corporation (IFC) in collaboration with the World Bank will play a key role in this initiative. It will have to engage the private sector to improve the business climate and encourage private investment in the agri-food sector in Côte d'Ivoire.

Santie

Photo Credit: La Croix

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