WB, AFDB worried about Ivory Coast aid
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