Ivory Coast announces $7bn infrastructure plan

The West African state of Ivory Coast on Monday, 5 March, said it was earmarking 3,760 billion CFA francs ($7.07bn) in infrastructure spending over the next five years, especially in transport.

The announcement was made by the minister for economic infrastructure Amede Koffi Kouakou at ceremonies to launch a business fair to be held in the economic capital Abidjan in November.

"Investment of around 3,760 billion CFA francs has been scheduled over the five years," he said, hailing the spending as "a major contribution to growth".

Chief areas of investment include a bridge in Abidjan linking the district of Yopougon to the business centre of Plateau, and completing half of some 650km of highway that Ivory Coast has to build under a scheme linking Abidjan to the capital of Burkina Faso, Ouagadougou.

Ivory Coast is considered a star performer among West African economies. In 2017, its gross domestic product (GDP) expanded by 7.6%.

Source: AFP