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ADB lends US$72 million for rural development

[Cote d'Ivoire] African Development Bank (ADB) headquarters Abidjan, Cote d'Ivoire. IRIN
ADB's headquarters in Abidjan, Cote d'Ivoire.
    ABIDJAN

    The African Development Bank (ADB) has agreed to lend the government of Cote d'Ivoire a total of US $72 million for rural development, social services and economic development, the bank reported on Tuesday.

    The Ivorian minister of economic affairs, Bohoun Bouabre, and ADB Vice-president Bisi Ogunjobi signed an agreement for the three loans on Tuesday in Abidjan.

    A loan of US $32 million will finance programmes to improve the education system and for the youth while US $19 million will help fund rural development in the Middle Comoe region within the framework of decentralisation and poverty reduction, the bank said.

    The third loan - for US $19 million - is for programmes to encourage macro-economic growth, agriculture, private-sector growth and increasing efficiency in public expenditure. It is also to be used for the delivery of education and health services.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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