Cote D'Ivoire COVID-19 Emergency DPO 2021

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The development objectives of the COVID-19 Emergency Response and Recovery Development Policy Financing Project in Cote D~^!!^Ivoire are to support reforms on two fronts: (i) strengthening the COVID-19 emergency response; and (ii) promoting sustained economic recovery. In addition to protecting vulnerable households and preserving jobs, several reforms also support the country’s longer-term objective of sustainable, inclusive, and resilient growth by setting the foundations for a national shock responsive safety net and by stimulating private sector investments, particularly from SMEs. The measures aimed at protecting firms and supporting their longer-term recovery were identified by the recently completed Country Private Sector Diagnostic. Pillar 1 strengthens the COVID-19 emergency response by: (i) expanding the safety net system with rapid and well-targeted cash transfers to households affected by COVID-19 while setting the basis for a single social register; (ii) protecting low income households with a temporary subsidy for their electricity bills; and (iii) ensuring the integrity of public funds by establishing solid fiduciary governance of COVID-19 funds. Pillar 2 promotes sustained economic recovery by: (i) streamlining procedures for medical imports, and value-added tax refunds, and allowing tax deferrals; (ii) creating a partial credit guarantee scheme for SMEs grounded in good corporate governance practices; (iii) accelerating the simplification and digitalization of the land system reform by establishing a unique identifier for land properties to nearly halve the time needed to obtain a land title and improving governance of the process; and (iv) improving debt management and transparency procedures in line with the Sustainable Development Finance Policy.