close
Share with your friends

Ivory Coast

Government and institution measures in response to COVID-19.

Government and institution measures in response to COVID-19.

Return to homepage  |  Last updated: 15 April, 2020

General Information

The CBWAS has taken several measures to mitigate the impact of Covid-19, including granted financial aid to commercial banks, decreasing the cost of fund transfers through mobile money, delaying financial debt reimbursements and granting loans to companies.

The Ivorian government has taken several measures including business support measures, economic support measures and social measures for population to mitigate the impact of Covid-19 and to preserve the key sectors of the economy.

Tax measures – Direct and Indirect

(e.g. payment deferrals, rate reductions…)

Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.

Economic stimulus measures

(e.g. loans, moratorium on debt repayments…)

  • On 21 March 2020, the CBWAS took major measures, in order to mitigate the negative impact of the sanitary crisis:
  • A FCFA340bn financial help has been granted to commercial banks, so they can sustain the economy;
  • 1,700 companies have been granted loans, while they were not eligible so far, so that they can benefit from further resources;
  • The West African Development Bank (WADB) will receive FCFA25bn from the CBWAS, in order to lower its interest rate and increase the amount of loans granted to WAMU members, so as to be able to fund the domestic economy;
  • To accept to delay financial debt reimbursements, especially for SMEs;
  • To decrease the cost of fund transfers through mobile money, in order to avoid a low in transactions;
  • To fund commercial banks with enough cash to guarantee a good working of cash machines;
  • If necessary, to reorganize the schedule of Treasury bills issuance.
  • The government announced several measures to preserve the key sectors of the economy:
  • The setting up of a private sector support fund for an amount of XOF 250 billion, in order to strengthen the SMEs with at least XOF 100 billion and the setting up of guarantee funds, in order to facilitate the access to bank credits;
  • The setting up of a specific support fund for informal sector enterprises affected by the crisis for an amount of XOF100 billion.
  • Support for the main sectors of the national economy, particularly cashew nuts, cotton, rubber, oil palm, cocoa and coffee with  XOF 250 billion;
  • Support for food, market gardening and fruit production for an amount of CFAF 50 billion, including CFAF 20 billion for inputs.

Other measures and sources

  • On March 30, the Government announced the following social measures to support individuals and domestic homes:
  • Postponement of deadlines for payment of electricity and water bills from April to July 2020 and from May to August 2020;
  • Suspension of payment of electricity and water bills for April and May 2020 for underprivileged classes;
  • The establishment of a solidarity fund amounting to CFAF 170 billion to fund the most vulnerable populations within the framework of emergency humanitarian support;
  • Strengthening the control of consumer goods and the application of sanctions to offenders;

Main sources of information:

Contact us

Tax & Legal: Jean-Luc Ruelle – jruelle@kpmg.ci / Stephanie Ouaffo – souaffo@kpmg.ci / Laetitia Monnet – lmonnet@kpmg.ci