CI: Post-conflict Reconstruction and Recovery Grant (PCRRG)

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The objective of the Post-Conflict Reconstruction and Recovery Grant (PCRRG) Program for Cote d'Ivoire is to provide a rapid response to a new government in dire financial straits while supporting essential reforms to improve governance, transparency and efficiency in public expenditure management and in the key sectors of cocoa, energy and finance. This program document states a program for the Republic of Cote d'Ivoire in the amount of SDR 93.9 million (US$ 150 million equivalent). The grant provides a bridge between past objectives and future operations, pursuing reforms initiated in previous grants while responding quickly to the emergency resulting from the recent crisis and the need to re launch economic growth. Cote d'Ivoire's political situation suffered a sharp reversal after the long-awaited Presidential elections of November 2010. Elections were held peacefully and in a manner generally considered to be free and fair. However, the Constitutional Court disqualified a large number of ballots and awarded President Laurent Gbagbo the victory, while the UN insisted that Alassane Ouattara had won. A political stalemate resulted and eventually led to a short-lived civil war; five months, many lives and much economic wealth were lost. An estimated 3,000 persons died, over 100,000 fled the country, and approximately one million were internally displaced. Three months of fiscal revenues were lost and the country accumulated new arrears with domestic and external creditors. The new government faces a daunting task of promoting reconciliation while providing justice and rebuilding the economy. The operation would provide urgently-needed financial support to the government in the context of an economy which virtually ground to a halt for two months. The PCRRG reflects the orientations for Bank engagement in states emerging from conflict as outlined in the 2011 World Development Report on Conflict, Security and Development and in the new Africa Strategy. First, it is rapid-response support aimed at breaking the cycle of repeated violence that has been observed in many post-conflict states. Second, while its objectives are modest, in recognition of the limited time available for the new government to define its priorities, the operation promotes incremental institutional change to improve governance and build confidence. Third, the areas supported by the operation reflect a high degree of selectivity on a small number of reforms that are feasible given the complex political situation.

FY17 - Energy and Extractives,FY17 - Financial Sector,FY17 - Industry, Trade and Services,FY17 - Public Administration

World Bank Group

Project

Bridge, Oil and Gas, Raw Materials, Government, Education