(Ecofin Agency) - With this grant, the EU reiterates its commitment to supporting Côte d'Ivoire's development, further strengthening their strategic partnership. Over the past decade, bilateral trade grew to €9.2 billion in 2023, according to EU data.

The European Union (EU) has announced a new investment of €153 million ($161.87 million) in Côte d'Ivoire between 2025 and 2027. This announcement was made during the 8th Partnership Dialogue session in Abidjan, as reported in a statement from the Ivorian government on December 4.

This funding, part of the "Global Europe" program, follows a previous investment of €228 million for 2021-2024. It is aimed at supporting key sectors such as peace, security, the rule of law, the business climate, and sustainable growth.

"Global Europe" is an EU initiative designed to strengthen its external action by promoting its core values worldwide. Its goals include poverty eradication, defending human rights, democracy, addressing climate change, and tackling irregular migration.

Francesca Di Mauro, the EU Ambassador to Côte d'Ivoire, highlighted the growing and diverse partnership between the EU and Côte d'Ivoire, spanning diplomacy, trade, security, defense, and investments. She also emphasized the EU's Global Gateway Strategy, which combines public and private funding for sustainable and inclusive economic growth.

Trade between Côte d'Ivoire and the EU has seen significant growth over the past decade, reaching €9.2 billion ($9.72 billion) in 2023, according to EU data. Di Mauro reaffirmed the EU's commitment to further deepening economic relations, particularly through an agreement to facilitate sustainable investments.

In addition to this new funding, the EU and Côte d'Ivoire signed a new partnership agreement covering sustainable fishing on November 21. This agreement will cover the 2024-2028 period, with the EU contributing €2.9 million to the Ivorian state budget throughout the agreement.