Côte d'Ivoire: Poverty Reduction Support Credit 2

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Following the return of political stability in mid-2011, the Republic of Côte d’Ivoire has made significant economic headway, consolidating an incipient recovery through sound macroeconomic management and consistent progress on structural reforms. The Second Poverty Reduction Support Credit (PRSC-2) in the amount of US$70 million is the second in a programmatic series of three development policy operations (DPOs) designed to assist Côte d’Ivoire in attaining its stated objective of becoming an emerging market by 2020. The proposed PRSC-2 has been prepared in line with good-practice principles for implementing development policy operations in fragile situations. Like PRSC-1, this operation focuses on areas of heightened importance in these special circumstances. These areas include: (i) strengthening public confidence in government by improving budgetary transparency and the accountability of public officials; (ii) building investor confidence through rapid, highly visible improvements in the business climate; and (iii) boosting economic opportunity by focusing on potential sources of growth and employment, particularly labor-intensive exports. The most recent poverty assessment dates from 2008, but a new assessment is currently being prepared and is expected to be completed before March 2015.