Two large investors involved in the development of West African nation Ivory Coast, released a joint statement on Sunday in which they expressed their concern related to the current post-electoral crisis in the country, and doubts about their future involvement in the nation’s development.
The World Bank Group and the African Development Bank stated they share the concerns of the United Nations, African Union, and other international organizations and view with frustration the aftermath of the election results.
The banks hope to develop programs to fight poverty in Ivory Coast but fear that the crisis will increase poverty, decrease stability, and corrode economic wellbeing.
The statement said, “We will continue to closely monitor developments and reassess the usefulness and effectiveness of our programs given the breakdown in governance.”
The African Development Bank aided Ivory Coast in 2009 with the forgiving of an estimated $517 million in debt. The country has had two presidents and the situation became tense, with its military shutting border traffic.
