Cote d’Ivoire will acquire a stake in the European Bank for Reconstruction and Development (EBRD) and become a member of the multilateral financial institution, a senior official said here on Wednesday.
Speaking after a council of ministers meeting, the Ivorian government’s spokesperson Amadou Coulibaly said: “The council has given its agreement for our country’s accession to the treaty creating the EBRD.”
Cote d’Ivoire’s accession to the EBRD follows a decision in 2023 in Samarkand, Uzbekistan, by the board of governors of the financial institution to expand its operations in sub-Saharan Africa.
The Ivorian government intends to take “appropriate measures” to allow the country to benefit from funding reserved for structuring projects in member countries.
Founded in 1991 and based in London, the EBRD’s mission is to facilitate the transition towards greener, more inclusive, more resilient and competitive market economies in member countries.
XINHUA