Boston, MA -- (SBWIRE) -- 12/26/2013 -- We are maintaining our positive outlook for growth in Cote d'Ivoire's construction sector over the medium term, with annual average real growth 0f 10.6% expected between 2013 and 2017. In line with the country's US$22.8bn National Development Plan, significant investment is taking place in the country's infrastructure sector. Funded by both public and private sources, the country is experiencing a boom in investment into the transport and power sectors, whilst growing natural resource investment is creating additional demand for new capacity. However, the security and political risks remain a very real threat, although a significant deterioration in the political climate is not our core view.

Construction growth made a strong rebound in 2013, with the recovery sustained over the medium term. Government investment into addressing the country's wide-reaching infrastructure deficiencies, following decades of underinvestment, is filtering through to projects. Whilst private investment is also picking up as political stability improves and the economy picks up.

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Investment into the country is being guided by the 2012-2015 National Development Plan. Approved in March 2012, the XOF11,076bn (US$22.8bn) outlines investment across a number of sectors - including a heavy focus on infrastructure - as well as social spending and improvement governance. Infrastructure, energy, water and other heavy industries are outlined as key areas of investment, whilst social infrastructure such as schools and hospitals will also receive attention, in line with the government's 'pro-poor' agenda.

The programme will be financed through a combination of public and private financing, with the government looking to continue its impressive start in the public-private partnership (PPP) market to further fund infrastructure projects.

The government element of the NDP will be funded by an improved financial position of the government. This is supported by numerous debt cancellations and growing tax revenues, in addition to growing revenues from gold mining and cocoa production. There is also longer-term potential for growing oil production as offshore exploration takes off, whilst offshore natural gas production is already seeing strong growth, with output doubling in 2013 (versus 2012), and hoped to increase a further 14% in 2014.

At the same time, the private sector is returning to growth, following years of political uncertainty. This drive for private investment in infrastructure is being support by development funding and, most crucially, the World Bank's Multilateral Investment Guarantee Agency (MIGA), which has been providing investor guarantees for flagship projects in the country.

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