Côte d’Ivoire receives funding to encourage industrial diversification

The DAICE Programme aims to strengthen the Ivorian Government's efforts towards economic diversification, the green transition and industrial development. (Image source: AfDB)

The African Development Bank (AfDB) has approved to loans to Côte d’Ivoire for the implementation of the Diversification, Industrial Acceleration, Competitiveness and Employment (DAICE) Programme the country had adopted under its National Development Plan 2021-2025

The two loans, worth a combined EU€165mn (approx. US$178mn), will be delivered from the Africa Growing Together Fund, a cofinancing fund created by AfDB and the People’s Bank of China. 

The DAICE Programme aims to strengthen the competitiveness of the priority business sectors of the National Development Plan, improve access to finance for SMEs, and support diversification and the promotion of private investment. Its implementation is expected to strengthen the competitiveness of clusters, boost businesses’ access to finance, increase industrial investment and create jobs. 

DAICE will also develop new sectors and promote the green transition in the industrial sector.