The government of Côte d’Ivoire and the American company ABD Group have signed a memorandum of understanding in Washington D.C. to develop a portfolio of priority infrastructure projects valued at over 330 billion CFA francs (approximately $560 million). The agreement was formalised during the Spring Meetings of the International Monetary Fund and the World Bank, underscoring the importance of multilateral gatherings for bilateral investment negotiations.
Minister of Economy, Finance and Budget Adama Coulibaly and ABD Group CEO John Nevergole signed the partnership at a Corporate Council on Africa roundtable, an event attended by officials including US Under Secretary of Commerce David Fogel and Ivorian Minister Souleymane Diarrassouba. The initiative aims to support Côte d’Ivoire’s economic transformation and strengthen bilateral relations with the United States, building upon existing frameworks such as the 2024 Trade and Investment Partnership and the Technical Assistance for Bankable Infrastructure initiative.
ABD Group has operated in the region for 15 years, investing 560 billion CFA francs to date, and the new agreement represents a significant expansion of its footprint in West Africa. The infrastructure portfolio is expected to include projects in transport, energy, and urban development, sectors that are critical to Côte d’Ivoire’s ambition to maintain one of the fastest-growing economies on the continent. The country has recorded sustained GDP growth over the past decade, driven by investments in roads, ports, and power generation.
From an investment climate perspective, the agreement signals continued US private sector interest in Francophone West Africa, a region where Chinese and European firms have traditionally dominated infrastructure financing. The partnership also reflects Côte d’Ivoire’s success in creating a stable, business-friendly environment that attracts long-term capital. For the Ivorian government, the deal supports its 2030 development vision, which prioritises infrastructure as a driver of industrialisation and job creation. The signing during the IMF/World Bank Spring Meetings also provides political cover, as multilateral oversight can enhance transparency and accountability in project implementation.
