The World Bank Group and the African Development Bank issued the following joint statement in response to the situation in the Cote d’Ivoire:

The African Development Bank and the World Bank, longstanding multilateral development partners of Cote d’Ivoire, view with great concern and frustration the events unfolding in Cote d’Ivoire in the aftermath of the long-awaited elections which were supposed to usher in peace, stability and a basis for improved governance and inclusive growth that reflects participation of all of Cote d’Ivoire.

We therefore share the serious concerns expressed by the United Nations, the African Union, Economic Commission of West African States and other international partners who have supported Cote d’Ivoire’s development efforts.

The sustained crisis in Cote d’Ivoire 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.

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.  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.  We support the efforts being made by the African Union and the international partners to bring this crisis, which has gone on far too long, to a quick and peaceful resolution.