WB, AFDB wor­ried about Ivory Coast aid

The Pak Banker - - Front Page -

WASHINGTON: The World Bank and the African Devel­op­ment Bank (AFDB) said the volatile sit­u­a­tion in Ivory Coast raised doubts about the "use­ful­ness and ef­fec­tive­ness" of their aid pro­grams to the trou­bled east African nation.

"We wish to con­tinue work­ing with the peo­ple of Cote d'Ivoire in the fight against poverty but it is dif­fi­cult to do so ef­fec­tively in an en­vi­ron­ment of pro­longed un­cer­tainty and ten­sion," the two banks said in a joint state­ment. "Ac­cord­ingly, in line with our poli­cies, we will con­tinue to closely monitor de­vel­op­ments and re­assess the use­ful­ness and ef­fec­tive­ness of our pro­grams given the break­down in gov­er­nance."

The banks said po­lit­i­cal turmoil in Ivory Coast "will drive many more Ivo­rians fur­ther into poverty and hurt sta­bil­ity and eco­nomic pros­per­ity in the West African sub-re­gion.

"It is im­per­a­tive there­fore for the Ivo­rian lead­er­ship to weigh the long term con­se­quences of the cri­sis... which has gone on far too long."

Ivory Coast was split in two be­tween north and south by a civil war in 2002 and 2003. The Novem­ber 28 runoff elec­tion was sup­posed to sta­bilise the coun­try, which was once the most pros­per­ous in west Africa.

How­ever, ri­vals chal­leng­ing Lau­rent Gbagbo's claim to the pres­i­dency de­clared Sun­day they had formed a new govern­ment, with in­ter­na­tional me­di­a­tors try­ing to set­tle the stand­off amid fears of civil war. -PB News

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