Cote d’Ivoire government on Thursday signed an agreement of 300 billion CFA Francs (600 million U.S. dollars) with the Islamic Corporation for Private Sector Development (SID).
The agreement was signed in Abidjan by Cote d’Ivoire’s Economy and Finance Minister Kaba Niale and Khaled Al Aboodi, representing SID, the organ in charge of private sector development within the Islamic Development Bank.
The development program signed with Cote d’Ivoire will be executed in two equal phases, each for 150 billion CFA Francs between 2015 to 2020.
SID will be in charge of structuring the operation, choosing various operators, coordinating and serving as a linkage with government officials and supervising the execution of various projects.
“SID is determined to work closely with the Cote d’Ivoire government to ensure success of the program,” Aboodi said during the signing ceremony.
By the end of 2013, Islamic Development Bank had supported a total of 23 projects in Cote d’Ivoire at a total cost of 532.5 million U.S. dollars. Enditem