(Ecofin Agency) - In swift response against the pandemic, the Ivorian government has deployed as of 2020 four financial vehicles to protect businesses active in the country. The strategy is expected to boost economic recovery to 7% growth this year.

The Ivorian government announced in a February 4 statement that it invested more than $72.6 million overall in the fight against covid-19 in 2021. The amount was provided via four vehicles including the aid fund for large companies (FSGE), aid fund for SMEs (FSPME), aid fund for informal sector actors (FASI), and the support fund for solidarity and humanitarian emergency (FSS). They benefited the “heavily impacted companies and individuals who have lost their jobs due to the pandemic."

The government said $14.8 million went to 44 large companies, $13.9 million to SMEs, and 57,743 informal sector actors received over $25 million while 136,810 vulnerable households and 1,899 unemployed workers were assisted with $18.8 million.

Through these disbursements, the government wants to boost economic recovery, preserve employment and strengthen its Covid-19 response. In 2021, GDP growth in the country was 6%, according to the IMF. For 2022, the institution expects a growth of 6.5%.