ABIDJAN, Ivory Coast––The Ivory Coast, one of West Africa’s well-managed nations, on Monday said it was earmarking 3,760 billion CFA francs ($7.07 billion, 5.7 billion euros) in infrastructure spending over the next five years. The spending will be applied in the area of transport.
Amede Koffi Kouakou, the country’s minister for economic infrastructure, made the announcement at ceremonies to launch a business fair to be held in the economic capital Abidjan in November this year.
“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.”
Kouakou said the chief areas of investment will include a bridge in Abidjan linking the district of Yopougon to the business center of Plateau, and the completion of half of some 650 kilometers (400 miles) of highway that Ivory Coast has to build under a scheme linking Abidjan to the capital of Burkina Faso, Ouagadougou.
By all standards, the Ivory Coast is considered a star performer among West African economies. In 2017, its gross domestic product (GDP) expanded by 7.6 percent.