Republic of Cote d'Ivoire - Second Adaptable Program Loan for Lagos Trade and Transport Facilitation Program Project : summary of discussion (English)

Executive Directors considered the President's Memorandum and Recommendation and approved the Second Phase Project (APL2) of the Abidjan-Lagos Trade and Transport Facilitation Program (ALTTFP) to the Republic of Cote d'Ivoire in the amount of SDR 57.9... See More + Executive Directors considered the President's Memorandum and Recommendation and approved the Second Phase Project (APL2) of the Abidjan-Lagos Trade and Transport Facilitation Program (ALTTFP) to the Republic of Cote d'Ivoire in the amount of SDR 57.9 million (US$ 90 million equivalent) on the payment terms and conditions set out in the President's Memorandum. Directors expressed support for the APL2, which is aligned with the country partnership strategy and poverty reduction strategy paper priorities for Cote d'Ivoire, with the regional integration assistance strategy for Sub-Saharan Africa, as well as with the Economic Community of West African States (ECOWAS) overarching regional Road Transport and Transit Facilitation Program. They were particularly pleased to note that the project aims to enforce harmonized regulations in the sub-region. Directors recognized that the potential benefits and economic returns are expected to reach a sizable population of the countries to be served through improved trade facilitation, particularly for the landlocked neighboring countries. Directors noted the difficult governance environment and highlighted the importance of addressing the project high risk rating. Implementation risks were underscored, but they noted that mitigation measures appeared adequate. Finally, Directors suggested that best practices, as well as lessons learned from similar regional trade, transport and transit facilitation projects, be applied.  See Less -